The Hindu Business Line : Actis to invest $500 m more in emerging markets

ACTIS, a private equity management firm carved out of CDC Capital Partners, plans to raise funds under its management in emerging markets to $3 billion over the next three years from the current $2.5 billion, a news release announcing the company's formal launch said here.

In 2003, Actis invested $465 million and realised $349 million from sales of existing portfolio, which included sale of its 20 per cent stake in UTI Bank to HSBC in December last year.

Actis has been active in India for 17 years with about $330 million invested in some 35 businesses, the release said.

CDC Capital Partners, the private investment arm of the UK Government, was divided in January 2004 when its investment and management roles were split into two companies.

The investment company retained the CDC name, whilst the management company, now majority owned by staff and management, is called Actis.

The release quoted Mr Donald Peck, Managing Director, Actis, as saying: "The launch of Actis in India will enable us to operate more effectively in this country. With the great team we have based here, Actis will be better able to mobilise third party capital to invest in successful Indian businesses.

"Our ambition for the next five years is to become firmly established as the leading private equity investor in emerging markets.

"Our success will be measured by the returns we make for our investors and the success of the companies we back."

More Stories on : Foreign Institutional Investors

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
HSBC Financial hikes stake in SSI

Feel good! Global mutual fund products soon at your doorstep

Narrow movement

IndoNext proposal likely to be cleared by BSE soon

Good chemistry

Tata Steel: Outlook negative, buy February 440 puts

Actis to invest $500 m more in emerging markets

Unclaimed dividends transfer: DCA urged to be lenient

Workshop on shareholder value

HLL leads fall as 3-day rally snaps

IPCL floor price set at Rs 170 per share — Retail investors to get 5 pc discount

Parry Agro plans rights issue to raise Rs 9.39 cr

Balrampur Chini rights issue