Private equity investment in India tripled last year, and is on course to top $10bn in 2007 as the sector’s elite, such as Carlyle and KKR, home in on the region. The Times reports that buyout firms spent a total of $7.47bn acquiring Indian companies or stakes in companies in 2006, according to a study by Venture Intelligence which tracks private equity activity in the country.
Volumes last year were bolstered by two deals: KKR’s $765m agreement to take Flextronics private and Idea Cellular’s sale of a stake to a consortium of private equity firms for $966m.
Blackstone last year opened an office in India and raised $1bn to spend there, while Carlyle has two funds concentrated on the country.