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Journalism of Courage
New York-based private equity firm Clearwater Capital Partners is looking at investing $120 million (around Rs 480 crore) in four PE deals in India in the next three months. Clearwater, which focuses on small and medium-sized distressed and undervalued companies in Asia excluding Japan, has already invested $350 million in 26 deals in India in the last two and a half years.
“Of our total corpus ($1.7 billion), exposure to India is in the range of 25-27 per cent. We have invested $350 million in 26 deals and will invest another $120 million in four more in next three months,” Clearwater managing partner Rob Petty said.
The investments include automotive parts company Jamna Auto, Diamond Cables, hospitality company Kamath Hotels and offshore services firm Dolphin Offshore Enterprises (India). The firm is sector agnostic and looks at investment of $15 million upwards with an aim to stay put for 2-4 years. However, the sector focus is largely manufacturing, hospitality, auto parts, oil and gas and power, Rob said.
“In the medium size space there is a big opportunity in companies who need capital to reach the inflection point of a turnaround…we partner them in their next episode of growth,” Rob said.
