Outsourcing News

Global private equity (PE) firm Carlyle Group is planning to invest around $850 million (around Rs 3,750 crore) in India in the near future, according to the fund. It has raised $2.55 billion under Carlyle Asia Partners (CAP) III Fund from international investors to invest in the Asia-Pacific region, excluding Japan. One- third of the amount is proposed to be invested in India. The size of the last CAP fund for the region was $1.8 billion, of which $600 million was put in housing finance company HDFC in 2007.

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Carlyle Group to invest $850 mn in India soon

According to a joint Paper brought out by Deloitte and ASSOCHAM, more than 80% private equity investment is likely in healthcare, education and clean energy in future as these 3 sectors are emerging as most favoured ones for PEs investors in India. Dr Swati Piramal president of ASSOCHAM pointed out that the Government of India has been laying substantial focus to build these sectors through public-private partnership projects across the country with a view to providing quality services in these three key areas of economic activities. PEs investment in these sectors suits their investors the most as the aforesaid areas assured return on investments for a period exceeding 5 years, pointed out joint findings of Deloitte and ASSOCHAM Paper.

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Private equity investment in clean energy to exceed by 80pct

The Canada Pension Plan Investment Board (CPPIB) has made its first investment in an India-focused private equity fund. The pension fund investor agreed to commit up to $100m to the fund managed by India’s Multiples Alternate Asset Management, set up by former ICICI Venture managing director Renuka Ramnath less than a year ago. Multiples said the CPPIB was one of the key investors in the domestic and international fund, reflecting pension funds growing appetite for emerging markets private equity funds. The firm has announced a first close of its first private equity product at $250m

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CPPIB invests US$100m in India fund

Tourism Finance Corporation of India (TFCI) is planning to tap private equity firms for its equity expansion as it seeks to finance large infrastructure projects and has ruled out plans to launch a follow-on public offering (FPO) soon. “Based on my profitability statement, I will try to raise further capital, whe-ther from promoters or from other sources. Private equity would be one of the options,” Archana Capoor, chairman and managing director of TFCI, told FC. “I am not thinking of an FPO right now. We would like to improve out earnings per share (EPS), which stands at Rs 3.6, and then consider going to the public again,” she said.

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TFCI eyes private equity, has no FPO plan for now

Domestic real estate-specific private equity funds have started raising money after a hiatus as developers are finding it difficult to tap the capital markets through initial public offerings. Indiareit, a real estate private equity fund promoted by Ajay Piramal group, is raising Rs 700 crore in the domestic market. The fund is looking at projects in major cities such as Mumbai, Bangalore and Pune and the investments would be made in other developers’ projects and not in the company’s real estate firm. Ramesh Jogani, managing director and CEO, Indiareit, said, “The fund will be subscribed by June and its duration is 7 years.” Jogani plans to invest 30% from this new fund in projects this year itself, with 20% in the initial-stage projects and 10% in the later-stage projects. The fund is targeting an internal rate of return of 25%.

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Realty private equities start raising money again

SA des Ciments Vicat, the French cement major, has sealed an agreement for acquiring 51% in Bharathi Cement, it told the NYSE. DNA first broke the story on April 16 that Vicat is acquiring Bharathi Cement, which is owned by Y S Jagan Mohan Reddy, a Member of Parliament from Kadapa and son of former Andhra Pradesh chief minister Y S Rajasekhara Reddy. The company will finance the acquisition through debt. Though Vicat has not disclosed any valuation, an investment banking source said the deal, to be priced around $200 per tonne, at Bharathi’s current capacity of 2.5 million tonne, could cost $500 million.

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France’s Vicat buys 51% in Bharathi Cem

Kidswear maker and retailer Lilliput today said it will sell an undisclosed stake to private equity firm TPG Growth for around Rs 115 crore. This will be second time the capital-based retail player dilutes stake within a week after agreeing to sell 31 per cent stake for around Rs 270 crore to private equity player Bain capital. The company said one of its old stakeholders, Everstone Capital, will be exiting the company. Everstone had held an undisclosed stake in Lilliput since 2006.

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Lilliput to sell stake to TPG Growth for 115 cr

With the advent of LinkedIn, Facebook, and dozens of other websites requiring your profile, the old-fashioned written resume is simply an artifact of a hiring practice that is slow to change, and should be abolished. In fact, if your profile is not already on one of these sites, it probably means that you aren’t in the business market anyway. Today, most personnel organizations readily admit that they already use the Internet to cross-check what they see in your written resume. You can bet that if the stories don’t match, they will more likely believe the online version. That’s why I emphasized in an earlier article how important it is to keep your online image clean. In reality, it doesn’t matter whether you are preparing an online profile for your favorite social network, or a written resume (Curriculum Vitae) in the old-fashioned sense, you need to make certain that it helps your case rather than hurts it.

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Social Networks Make Resumes Obsolete

MDRNA, a drug discovery and development company, has announced a study effort with Pfizer . The relationship will focus on the evaluation of MDRNA’s proprietary di-alkylated amino acids, or DiLA2, platform and UsiRNA constructs for RNA interference.

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Datamonitor: MDRNA and Pfizer form partnership

Risk mitigation in IT outsourcing engagements has become a hot topic recently. It was scrutinized in a recent Everest Group’s whitepaper titled ” Emerging Markets Suppliers: A valuable Lever for Risks Diversification” providing a list of recommended, “must-know” vendors in 6 ITO destinations that compete with India. Central and Eastern Europe (CEE) was represented by its leading full-cycle software services provider EPAM Systems

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ITO Firms in CEE Prioritize Security of Clients’ Data

Is China SAFE for Private Equity Investors? China Venture News International private equity firms, like gold prospectors, continue to invest in China, reflecting the same gold rush mentality that often results in high-stakes risks for all. The influx of new money …

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Seen that? – Is China SAFE for Private Equity Investors?

When I began the Most Innovative Companies annual survey with BCG’s James Andrew , nearly all the top 50 companies were American. This year, more than half of the most innovative companies in the world came from Asia and Europe.

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Innovation Shifts to Asia and Europe, Away From The US

The deep meaning of the SEC’s lawsuit against Goldman Sachs for fraud is that it marks the end of the “financialization” of the US economy and the return to the “socialization” of finance. This is a very good thing and educators at both business and design strategy schools need to note the huge change. For the past three decades, the Chicago school of economics has propagated the theory of efficient, rational markets that divorced financial and economic activity from their social and political context. Wall Street recruits out of Ivy League schools went through year-long training rituals that taught them the belief that markets were always efficient, rational and correct; markets were the most important guide to society; and that they, as individuals, were the Best and the Brightest who deserved all the rewards that markets could bring. What the Chicago school and Wall Street forgot was the very real social and political context of markets.

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B-Schools And D-Schools Should Listen To The Cultural Context of the SEC Lawsuit Against Goldman–

Asia-focused private equity firm New Silk Route said Monday it has invested INR3.60 billion for an undisclosed stake in Coffee Day Resorts. “The Coffee Day Group…is emerging as an attractive aggregation of businesses in a variety of consumption and infrastructure sectors,” New Silk Route’s founding general partner and chief executive, Parag Saxena, said in a statement. Saxena will join the board of Coffee Day Resorts, the statement said.

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New Silk Route Invests INR3.6 Billion In Coffee Day Resorts

By: Michael Russell Sometimes there are things in life that are very obvious. In the medical billing world, this isn’t always the case. Many on the outside would automatically think that electronic billing of claims is the sure pick over sending paper claims via the United States Post Office. And while electronic billing certainly does have its advantages, is it really the be all and end all of medical billing? In this article, we’re going to take a good look at each method of sending claims. Sometimes the grass is greener but sometimes it isn’t. Let’s take a look at the facts of each type of billing. With paper claims, you have to either manually fill out the claims by hand, especially if you’re a small office and can’t afford expensive software, or at best you need the software to fill out the claims as they are printed off your dot matrix or laser printer. Most software products for this industry don’t support Inkjet printing. For that matter, most carriers won’t accept anything but laser quality anyway

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Medical Billing – Electronic Or Paper Claims

GMR Group is planning to raise $100 million in private equity for its power business, apart from $515 million it collected this month, reports say, quoting a top official. Bengaluru-based GMR is discussing with firms for the additional funding and hopes to clinch the deal by next month-end, Group Chief Financial Officer Subbarao Amarthaluru said.

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GMR To Raise $100 Mln. Via Private Equity Deal

Paris-based Vicat has announced an agreement with Y S Jagan Mohan Reddy and other shareholders to acquire 51% stake in Bharati Cement. According to a release issued by Vicat today, Bharati Cement operates a cement plant of two lines in Andhra Pradesh that will reach a total annual capacity of five million tonne at the end of 2010. Y S Jagan Mohan Reddy, an MP, is the son of former Andhra Chief Minister Y S Rajasekhara Reddy who died in an air crash last year.

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Vicat to buy 51% stake in Bharati Cement

Mumbai-based construction and engineering firm, Larsen & Turbo is planning to launch a US$300 million private equity fund to invest in power and road projects in India, Bloomberg reported. Quoting the company’s Senior Vice President for Financial Services N Sivaraman, the newswire said the infrastructure major will invest this fund in companies outside L&T. The firm is leaned to be looking for a Singapore-based partner to invest in the fund besides putting in some money from its own.

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L&T to launch US$300 million infra fund

I have ranted about the lack of Do It Yourself Business Intelligence tools before in this forum. Seems like some interesting tools are emerging! That too in Commercial Open Source Form!

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Do It Yourself Business Intelligence – We are getting there finally!

Although every startup is unique, there are certain common avoidable mistakes that can lead to legal complications which jeopardize the long-term success of the business. I’m not suggesting that every startup needs a lawyer, but you should definitely pay attention, and not be afraid to consult legal counsel if any of these raise qualms for you. Like other environments, most legal issues don’t result from fraud, but from ignorance on specific requirements, or simply never getting around to doing the things that common sense would tell you to do. Here are some examples: Failure to document a founder agreement at the beginning. This shortcut can lead to the so-called “forgotten founder” problem. Early co-founders often drop out of the picture due to disagreements, and you forget about them, but they don’t forget about the verbal promises you made

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Legal Mistakes Every Startup Can Avoid