PE investments decline by 5 per cent sequentially in second quarter

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Private equity investments in the first nine months of the current calendar year stood at $10.6 billion across 443 deals, 23 per cent down compared with $13.8 billion across 594 deals in the same period in 2015.

The largest PE investment during the quarter was the $300 million raised by Paytm from Taiwan’s Mediatek, China’s Alibaba and venture capital firm SAIF Partners.

The second largest was Goldman Sachs’ $250-million investment in Essel Highways followed by $175 million raised by messenger firm Hike from China’s Tencent, Taiwan’s Foxconn and US-based Tiger Global. India Infoline Finance came next, raising $149 million from CDC Group, followed by TCNS Clothing, which received $140 million from TA Associates.

As for sectors, IT and ITeS companies accounted for 36 per cent of the private equity investment pie in the September quarter, raising $1.15 billion across 65 transactions during the period, followed by the banking, financial services and insurance (BFSI) sector, which received $861 million. FE