Four-S Private Equity Track

Date: August 24, 2017
Pages: 4
Price:
US$ 100.00
Publisher: Four-S Services Private Limited
Report type: Brief Review, Periodicals
Delivery: E-mail Delivery (PDF), Online Subscription, E-mail Delivery (Word)
ID: FCADD911C3CEN
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Four-S Private Equity Track
PE ACTIVITY FOR THE WEEK
  • The year 2017 has so far aggregated $16,105.3 mn of disclosed PE investments across 687 deals compared to $10,067.4 mn (1049 deals) during the same period last year.
  • The week ending 19th Aug saw $322.7 mn of disclosed PE investments across 14 deals compared to $502.8 mn (26 deals) during the same period last year.
  • The largest disclosed transaction during the week was $262 mn investment in RBL Bank by CDC Group, Multiples Alternate Asset Management, HDFC Standard Life Insurance Company, Global IVY Ventures, ICICI Lombard General Insurance Company, Steadview Capital.

The year 2013 saw 535 PE/VC deals worth $10.98 bn, an increase of 35% compared to investments worth $8.13 bn across 475 deals in 2012. The year was largely marked by big ticket deals with increase in average deal size to $20 mn from $17 mn a year ago. Deals above $100 mn aggregated to worth $6.22 bn in 2013 compared to $3.68 bn in 2011. Manufacturing sector garnered the major share (16.7%), followed by real estate (16%) and IT/ITeS (14.5%). In 2013, exits went down compared with the previous years with secondary and M&A transactions gaining pace as major sources of exits.

The year 2013 saw 535 PE/VC deals worth $10.98 bn, an increase of 35% compared to investments worth $8.13 bn across 475 deals in 2012.

Private Equity Activity in 2013 vs 2012
Private Equity Activity in 2013 vs 2012 

May aggregated over $1.9 bn in investments largely on account of mega Airtel deal.

Private Equity Activity – Month-Wise
Private Equity Activity – Month-Wise 

Manufacturing sector topped the investment chart accounting for 16.7% of investments with a deal value of $1.83 bn. The real estate sector occupied the second slot in terms of PE investments and totaled $1.76 bn across 36 deals; this translates into 16% share. This includes three $300 mn plus deals. The IT/ITeS came in next with $1.59 bn worth of deals (14.5% share). This includes Baring PE’s $443.2 mn investment in Hexaware Technologies Ltd, in the single largest alternative investment deal in the Indian IT/ITeS industry.

 Private Equity –Sector Wise Allocation in 2013
 Private Equity –Sector Wise Allocation in 2013 

The year 2013 saw 535 PE/VC deals worth $10.98 bn, an increase of 35% compared to investments worth $8.13 bn across 475 deals in 2012. Fund managers remained choosy and invested larger sums of money in lesser number of companies, an indication of winning companies attracting larger capital.

The year was largely marked by higher value deals leading to an increase in average deal size to $20 mn from $17 mn a year ago.

There were 22 deals above $100 mn in value (worth $6.22 bn) compared to 22 deals (worth $3.68 bn) in 2012. This was due to increase in high value deals in the real-estate and infrastructure sector - seven $100 plus deals in 2013 compared to two such deals in 2012.

The largest PE investment during the year was 5% stake bought by Qatar Foundation in India’s largest telecom company Bharti Airtel Ltd for $1.26bn. This was followed by $469.8 mn investment by KKR India to buy majority stake in Alliance Tire Group. In another mega deal, Baring PE acquired 71% stake in Hexaware Technologies Ltd for $443.2 mn.

The Manufacturing sector topped the investment chart accounting for 16.7% of investments with a deal value of $1.83 bn. This was largely on account of mega Alliance Tire – KKR deal. In another major deal in the same space this year, Baring PE invested $259.5 mn for a 14% stake in Lafarge India. The real estate sector occupied the second slot in terms of PE investments and totaled $1.76 bn across 36 deals; this translates into 16% share. This includes three $300 mn plus deals.

The IT/ITeS came in next with $1.59 bn worth of deals (14.5% share). This includes Baring PE’s $443.2 mn investment in Hexaware Technologies Ltd, the single largest alternative investment deal in the Indian IT/ITeS industry. The year saw many mega deals happening in the hot e-commerce space. Flipkart in its final round of private funding received $360 mn from Naspers and Tiger Global.

However, 2013 remained slow in terms of exits with transactions worth $3.59 bn across 174 deals as compared to $5.21 bn (80 deals) in 2012. Secondary and M&A transactions gained pace as major sources of exits in 2013. In the largest exit, Warburg Pincus sold its stake in Alliance Tire Group to KKR for $469.8 mn. 

The material was prepared in January, 2014.

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