Carlyle joins race for bakery chain; Paragon makes exit move; Q&A with BPEA Credit head

Trouble viewing this email? [View in web browser](=/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wNC9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA0LTA1Lmh0bWw=/6610120f93c453ed24359285-20240405) [VCCircle](=/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/6610120f93c453ed24359285-20240405) Friday, 5 Apr 2024 =/2/aHR0cHM6Ly90aGVwaXRjaC52Y2NldmVudHMuY29tLw==/6610120f93c453ed24359285-20240405 =/3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nhcmx5bGVncm91cC1qb2lucy1yYWNlLWZvci1jb250cm9sbGluZy1zdGFrZS1pbi1iYWtlcnktY2hhaW4=/6610120f93c453ed24359285-20240405 Private Equity [Carlyle joins race for controlling stake in bakery chain](=/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nhcmx5bGVncm91cC1qb2lucy1yYWNlLWZvci1jb250cm9sbGluZy1zdGFrZS1pbi1iYWtlcnktY2hhaW4=/6610120f93c453ed24359285-20240405) US investment giant Carlyle Group has joined a slew of global private equity firms and strategic suitors that are in race to acquire a controlling ...... [Read more](=/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2Nhcmx5bGVncm91cC1qb2lucy1yYWNlLWZvci1jb250cm9sbGluZy1zdGFrZS1pbi1iYWtlcnktY2hhaW4=/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- Private Equity [Belgian investment firm Ackermans & van Haaren tops up bet on Indian company](=/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JlbGdpYW5pbnZlc3RtZW50LWZpcm0tYWNrZXJtYW5zLXZhbi1oYWFyZW4tdG9wcy11cC1iZXQtb24taW5kaWFuLWNvbXBhbnk=/6610120f93c453ed24359285-20240405) Belgium-based investment firm Ackermans & van Haaren, which has participated as a limited partner (LP) in some India-based private equity funds, has ...... [Read more](=/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JlbGdpYW5pbnZlc3RtZW50LWZpcm0tYWNrZXJtYW5zLXZhbi1oYWFyZW4tdG9wcy11cC1iZXQtb24taW5kaWFuLWNvbXBhbnk=/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- Venture Capital [Lighthouse Canton plans new venture capital fund to back portfolio winners](=/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xpZ2h0aG91c2VjYW50b24tcGxhbnMtbmV3LXZlbnR1cmUtY2FwaXRhbC1mdW5kLXRvLWJhY2stcG9ydGZvbGlvLXdpbm5lcnM=/6610120f93c453ed24359285-20240405) Singapore-based investment firm Lighthouse Canton plans to roll out a new venture capital fund to double down on the standout performers from its ...... [Read more](=/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xpZ2h0aG91c2VjYW50b24tcGxhbnMtbmV3LXZlbnR1cmUtY2FwaXRhbC1mdW5kLXRvLWJhY2stcG9ydGZvbGlvLXdpbm5lcnM=/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- =/10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BhcmFnb25wYXJ0bmVycy1oaXRzLXNlbGwtYnV0dG9uLW9uLXBvcnRmb2xpby1maXJtLXdpdGgtbmVhdC1yZXR1cm5z/6610120f93c453ed24359285-20240405 Private Equity [Paragon Partners hits sell button on portfolio firm with neat returns](=/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BhcmFnb25wYXJ0bmVycy1oaXRzLXNlbGwtYnV0dG9uLW9uLXBvcnRmb2xpby1maXJtLXdpdGgtbmVhdC1yZXR1cm5z/6610120f93c453ed24359285-20240405) Paragon Partners, a mid-market private equity firm that raised $120 million (Rs 779 crore) for its maiden fund in 2017 and last year quietly wrapped...... [Read more](=/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3BhcmFnb25wYXJ0bmVycy1oaXRzLXNlbGwtYnV0dG9uLW9uLXBvcnRmb2xpby1maXJtLXdpdGgtbmVhdC1yZXR1cm5z/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- Startups [Byju's breached terms of loan from Manipal's Pai, Aakash stake sale blocked: Arbitrator](=/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2J5anVzLWJyZWFjaGVkLXRlcm1zLW9mLWxvYW4tZnJvbS1tYW5pcGFsLXMtcGFpLWFha2FzaC1zdGFrZS1zYWxlLWJsb2NrZWQtYXJiaXRyYXRvcg==/6610120f93c453ed24359285-20240405) Indian ed-tech startup Byju's breached terms of loans worth $42 million and has been asked by an arbitrator not to sell some shares of a group ...... [Read more](=/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2J5anVzLWJyZWFjaGVkLXRlcm1zLW9mLWxvYW4tZnJvbS1tYW5pcGFsLXMtcGFpLWFha2FzaC1zdGFrZS1zYWxlLWJsb2NrZWQtYXJiaXRyYXRvcg==/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- =/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JwZWFjcmVkaXQtaGVhZC1rYW5jaGFuLWphaW4tb24tbWFya2V0LW9wcG9ydHVuaXRpZXMtb3ZlcmNyb3dkaW5nLWFuZC1tb3Jl/6610120f93c453ed24359285-20240405 Interview [BPEA Credit head Kanchan Jain on market opportunities, overcrowding and more](=/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JwZWFjcmVkaXQtaGVhZC1rYW5jaGFuLWphaW4tb24tbWFya2V0LW9wcG9ydHVuaXRpZXMtb3ZlcmNyb3dkaW5nLWFuZC1tb3Jl/6610120f93c453ed24359285-20240405) India- and Singapore-based BPEA Credit expects private credit opportunities to grow as companies in its target markets are looking for capital from ...... [Read more](=/17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JwZWFjcmVkaXQtaGVhZC1rYW5jaGFuLWphaW4tb24tbWFya2V0LW9wcG9ydHVuaXRpZXMtb3ZlcmNyb3dkaW5nLWFuZC1tb3Jl/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- Private Equity [Deals Digest: Mid-sized transactions in focus but total value drops for third week](=/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2RlYWxzZGlnZXN0LW1pZC1zaXplZC10cmFuc2FjdGlvbnMtaW4tZm9jdXMtYnV0LXRvdGFsLXZhbHVlLWRyb3BzLWZvci10aGlyZC13ZWVr/6610120f93c453ed24359285-20240405) Private equity and venture capital dealmaking declined in value terms for the third straight week in the five days through Friday but deal volume ...... [Read more](=/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2RlYWxzZGlnZXN0LW1pZC1zaXplZC10cmFuc2FjdGlvbnMtaW4tZm9jdXMtYnV0LXRvdGFsLXZhbHVlLWRyb3BzLWZvci10aGlyZC13ZWVr/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- M&A [Homegrown consultancy Stirrup Communications gets strategic buyer](=/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvbWVncm93bmNvbW11bmljYXRpb25zLWNvbnN1bHRhbmN5LXN0aXJydXAtY29tbXVuaWNhdGlvbnMtZ2V0cy1zdHJhdGVnaWMtYnV5ZXI=/6610120f93c453ed24359285-20240405) Mumbai-based Stirrup Communications Pvt Ltd, which operates the eponymous communications consultancy firm specialising in environmental, social and ...... [Read more](=/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvbWVncm93bmNvbW11bmljYXRpb25zLWNvbnN1bHRhbmN5LXN0aXJydXAtY29tbXVuaWNhdGlvbnMtZ2V0cy1zdHJhdGVnaWMtYnV5ZXI=/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- Others [Grapevine: PE firms line up for Bharat Serums; IFC, ADB to invest in Fourth Partner](=/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXBlLWZpcm1zLWxpbmUtdXAtZm9yLWJoYXJhdC1zZXJ1bXMtaWZjLWFkYi10by1pbnZlc3QtaW4tZm91cnRoLXBhcnRuZXI=/6610120f93c453ed24359285-20240405) Five major global private equity firms - Warburg Pincus, Permira, EQT, Bain, and TPG - are interested in acquiring Bharat Serums and Vaccines...... [Read more](=/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXBlLWZpcm1zLWxpbmUtdXAtZm9yLWJoYXJhdC1zZXJ1bXMtaWZjLWFkYi10by1pbnZlc3QtaW4tZm91cnRoLXBhcnRuZXI=/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- People [Bandhan Bank CEO Chandra Shekhar Ghosh to retire in July](=/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JhbmRoYW5iYW5rLWNlby1jaGFuZHJhLXNoZWtoYXItZ2hvc2gtdG8tcmV0aXJlLWluLWp1bHk=/6610120f93c453ed24359285-20240405) India's Bandhan Bank said on Friday its Managing Director and Chief Executive Chandra Shekhar Ghosh would retire on July 9, after spending nearly ...... [Read more](=/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JhbmRoYW5iYW5rLWNlby1jaGFuZHJhLXNoZWtoYXItZ2hvc2gtdG8tcmV0aXJlLWluLWp1bHk=/6610120f93c453ed24359285-20240405) --------------------------------------------------------------- Monetary Policy [RBI holds key rate steady on robust growth, above target inflation](=/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3JiaWhvbGRzLWtleS1yYXRlLXN0ZWFkeS1vbi1yb2J1c3QtZ3Jvd3RoLWFib3ZlLXRhcmdldC1pbmZsYXRpb24=/6610120f93c453ed24359285-20240405) The Indian central bank's key interest rate was kept unchanged for a seventh straight policy meeting on Friday as growth in the economy is ...... 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