Evolvence India Fund Invests US$100 Million in 6 Private Equity and Infrastructure funds
Evolvence India Fund, the first independent fund of funds focused on private equity, real estate and infrastructure development in India, has invested in six funds and made four additional investments in high growth companies. Evolvence Capital, an alternative investment group established in year 2000 with US$ 750 million assets under management in a diverse range of products, is the sponsor and cornerstone investor in Evolvence India Fund. Jay Jegannathan, Managing Director of the Evolvence India Fund, said the investment was the result of Evolvence India’s strategy of marrying investor needs for diversification and high returns with the investment group’s proven ability to create and incubate excellent investment vehicles. “Evolvence India Fund managers have a vertical knowledge in India that is unrivaled. Our goal is to create quality investment products using our deep insights and expertise in emerging markets.” “We foresee exceptional growth in India, especially in the manufacturing, services, Infrastructure and real estate sectors we have targeted with this initial investment. We expect to add significant global investments to our India portfolio in the near future,” added Jegannathan. The Evolvence India Fund portfolio includes investments into funds by UTI Ventures, New York Life Investment Management, IDFC Private Equity, IL&FS Investment Managers, India Value Fund Advisors and Baring India Private Equity. The additional investments include Emaar-MGF Land (P) Limited (a joint venture of Emaar Properties in India), Centurion Bank of Punjab (Retail focused bank in India), Consolidated Construction Consortium Limited (a leading engineering and construction contractor) and Eastern Silk Industries Limited (a silk textile manufacturer). The fund is supported by eight professionals based in New Delhi. The fund plans to invest an additional US$150 Million as growth capital into various funds and companies in India focused on manufacturing, services, infrastructure and real estate. - Ends - About Evolvence Capital Evolvence Capital is a leading Dubai-based Alternative Investment Group, owned by high net worth families across the Gulf. Founded by former ADIA employee Khaled Al-Muhairy in 2000, Evolvence incubates investment vehicules following 5 step incubation processes to create products which attract global investors and proprietary capital. With USD 750 million of assets under management in a diverse range of funds and a world class management team and networks with leading fund managers, the firm is equipped to add significant global investments to its portfolio.
- Energy City-Qatar Private Placement: Abu Dhabi Investment House to Offer US$100 million in UAE
- Evolvence Capital to launch $300 million real estate fund
- Evolvence Capital launches third India focused fund at USD 400 million
- Abraaj Capital inaugurates India Fund with acquisition of strategic stake in Ramky Infrastructure Ltd.
- Family funds: a viable alternative to bank loans in Saudi Arabia?