TPG clocks an exit: PE firms explore food platforms; LeapFrog, Neo Asset in fund news

Trouble viewing this email? [View in web browser](/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wOC9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA4LTI3Lmh0bWw=/66cde2bfb62e5881b9d29b0d-20240827) [VCCircle](/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/66cde2bfb62e5881b9d29b0d-20240827) Tuesday, 27 Aug 2024 /2/aHR0cHM6Ly9scHN1bW1pdC52Y2NldmVudHMuY29tL2R1YmFpLw==/66cde2bfb62e5881b9d29b0d-20240827 /3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RwZ3NwaW5zLWFibm9ybWFsLXJldHVybnMtdmlhLXF1aWNrLWluZGlhLWV4aXQtbW92ZQ==/66cde2bfb62e5881b9d29b0d-20240827 Private Equity [TPG spins abnormal returns via quick India exit move](/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RwZ3NwaW5zLWFibm9ybWFsLXJldHVybnMtdmlhLXF1aWNrLWluZGlhLWV4aXQtbW92ZQ==/66cde2bfb62e5881b9d29b0d-20240827) Alternative investment giant TPG, which has had a mixed bag in terms of some private equity harvests churning big money and others turning out to be ...... [Read more](/5/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RwZ3NwaW5zLWFibm9ybWFsLXJldHVybnMtdmlhLXF1aWNrLWluZGlhLWV4aXQtbW92ZQ==/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Private Equity [Indian, global PE firms plan food service platforms, encircle QSR players](/6/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhbmdsb2JhbC1wZS1maXJtcy1wbGFuLWZvb2Qtc2VydmljZS1wbGF0Zm9ybXMtZW5jaXJjbGUtcXNyLXBsYXllcnM=/66cde2bfb62e5881b9d29b0d-20240827) A number of foreign and Indian private equity firms are approaching quick-service restaurant (QSR) brands in several categories as they explore the ...... [Read more](/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhbmdsb2JhbC1wZS1maXJtcy1wbGFuLWZvb2Qtc2VydmljZS1wbGF0Zm9ybXMtZW5jaXJjbGUtcXNyLXBsYXllcnM=/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Private Equity [How Rebel Foods' valuation multiple crumbled in the latest funding round](/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3JlYmVsLWZvb2RzLXZhbHVhdGlvbi1tdWx0aXBsZS1jcnVtYmxlZC1pbi10aGUtbGF0ZXN0LWZ1bmRpbmctcm91bmQ=/66cde2bfb62e5881b9d29b0d-20240827) Quick-service restaurant chain Rebel Foods is likely being valued at a much lower revenue multiple than before in a new round of funding from ...... [Read more](/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hvd3JlYmVsLWZvb2RzLXZhbHVhdGlvbi1tdWx0aXBsZS1jcnVtYmxlZC1pbi10aGUtbGF0ZXN0LWZ1bmRpbmctcm91bmQ=/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- /10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FwYWNmb2N1c2VkLWFkbS1jYXBpdGFsLXNlZXMtaW5kaWEtaW52ZXN0bWVudHMtc2xvd2luZy1kdWUtdG8tbWFjcm8tcmlza3M=/66cde2bfb62e5881b9d29b0d-20240827 Credit [APAC-focused ADM Capital sees India investments slowing due to macro risks](/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FwYWNmb2N1c2VkLWFkbS1jYXBpdGFsLXNlZXMtaW5kaWEtaW52ZXN0bWVudHMtc2xvd2luZy1kdWUtdG8tbWFjcm8tcmlza3M=/66cde2bfb62e5881b9d29b0d-20240827) Hong Kong-based credit investor ADM Capital, which focusses on countries in the Asia-Pacific region, expects increased macroeconomic risks to impact ...... [Read more](/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FwYWNmb2N1c2VkLWFkbS1jYXBpdGFsLXNlZXMtaW5kaWEtaW52ZXN0bWVudHMtc2xvd2luZy1kdWUtdG8tbWFjcm8tcmlza3M=/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Private Equity [Neo Asset to foray into PE with new fund; ropes in ex-TPG NewQuest exec](/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25lb2Fzc2V0LXRvLWZvcmF5LWludG8tcGUtd2l0aC1uZXctZnVuZC1yb3Blcy1pbi1leC10cGctbmV3cXVlc3QtZXhlYw==/66cde2bfb62e5881b9d29b0d-20240827) Neo Asset and Wealth Management, the wealth management arm of Mumbai-based Neo Group, is set to float a private equity (PE) fund as it forays into ...... [Read more](/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL25lb2Fzc2V0LXRvLWZvcmF5LWludG8tcGUtd2l0aC1uZXctZnVuZC1yb3Blcy1pbi1leC10cGctbmV3cXVlc3QtZXhlYw==/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Private Equity [LeapFrog taps another LP after increasing corpus for latest climate fund](/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xlYXBmcm9ndGFwcy1hbm90aGVyLWxwLWFmdGVyLXJhaXNpbmctY29ycHVzLWZvci1sYXRlc3QtY2xpbWF0ZS1mdW5kLWxhc3QteWVhcg==/66cde2bfb62e5881b9d29b0d-20240827) Temasek-backed LeapFrog Investments, a global sustainability-focussed impact investment firm, has roped in a returning limited partner for its climate...... [Read more](/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2xlYXBmcm9ndGFwcy1hbm90aGVyLWxwLWFmdGVyLXJhaXNpbmctY29ycHVzLWZvci1sYXRlc3QtY2xpbWF0ZS1mdW5kLWxhc3QteWVhcg==/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- /17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmV0YWJsZS1zcGFjZS1zLWZ5MjQtcmV2ZW51ZS1jcm9zc2VzLTEwMC1tbi1tYXJrLWJ1dC1wcm9maXQtZ3Jvd3RoLWNhcHBlZA==/66cde2bfb62e5881b9d29b0d-20240827 Infrastructure [Bottomline: Table Space's FY24 revenue crosses $100 mn mark but profit growth capped](/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmV0YWJsZS1zcGFjZS1zLWZ5MjQtcmV2ZW51ZS1jcm9zc2VzLTEwMC1tbi1tYXJrLWJ1dC1wcm9maXQtZ3Jvd3RoLWNhcHBlZA==/66cde2bfb62e5881b9d29b0d-20240827) Table Space, which offers fully developed and managed office spaces with some common shared amenities, recorded a substantial revenue growth in the ...... [Read more](/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JvdHRvbWxpbmV0YWJsZS1zcGFjZS1zLWZ5MjQtcmV2ZW51ZS1jcm9zc2VzLTEwMC1tbi1tYXJrLWJ1dC1wcm9maXQtZ3Jvd3RoLWNhcHBlZA==/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Markets [Foreign investors ditch India's pricey stocks, opt for new issues](/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZvcmVpZ25pbnZlc3RvcnMtZGl0Y2gtaW5kaWEtcy1wcmljZXktc3RvY2tzLW9wdC1mb3ItbmV3LWlzc3Vlcw==/66cde2bfb62e5881b9d29b0d-20240827) Foreign investors are unloading their holdings of expensive Indian stocks and turning instead to new listings in primary markets as they seek cheaper...... [Read more](/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2ZvcmVpZ25pbnZlc3RvcnMtZGl0Y2gtaW5kaWEtcy1wcmljZXktc3RvY2tzLW9wdC1mb3ItbmV3LWlzc3Vlcw==/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- M&A [Temasek-backed firm, Zydus may recast API, gelatine business of Sterling Biotech](/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RlbWFzZWtiYWNrZWQtZmlybS16eWR1cy1tYXktcmVjYXN0LWFwaS1nZWxhdGluZS1idXNpbmVzcy1vZi1zdGVybGluZy1iaW90ZWNo/66cde2bfb62e5881b9d29b0d-20240827) The owners of Sterling Biotech--Generic drugmaker Zydus Lifesciences Ltd and private equity Temasek-backed Perfect Day Inc—plan to restructure ...... [Read more](/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3RlbWFzZWtiYWNrZWQtZmlybS16eWR1cy1tYXktcmVjYXN0LWFwaS1nZWxhdGluZS1idXNpbmVzcy1vZi1zdGVybGluZy1iaW90ZWNo/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Markets [Highway developer Gawar Construction’s InvIT files for $190-mn IPO](/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2hpZ2h3YXlkZXZlbG9wZXItZ2F3YXItY29uc3RydWN0aW9uLXMtaW52aXQtZmlsZXMtZm9yLTE5MC1tbi1pcG8=/66cde2bfb62e5881b9d29b0d-20240827) National Infrastructure Trust, an infrastructure investment trust (InvIT) sponsored by Gurgaon-based highway developer Gawar Construction Ltd, has ...... 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[Read more](/31/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2NvbnZpbmZpbmFya2Vpbi1maXZlLW90aGVycy1yYWlzZS1lYXJseS1zdGFnZS1mdW5kcw==/66cde2bfb62e5881b9d29b0d-20240827) --------------------------------------------------------------- Venture Capital [Kae appoints former Endiya exec, elevates own partner to general partner position](/32/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2thZWFwcG9pbnRzLWZvcm1lci1lbmRpeWEtZXhlYy1lbGV2YXRlcy1vd24tcGFydG5lci10by1nZW5lcmFsLXBhcnRuZXItcG9zaXRpb24=/66cde2bfb62e5881b9d29b0d-20240827) Kae Capital, a Mumbai-based early-stage venture capital firm managing about $250 million in capital, has bolstered its leadership team, appointing ...... 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