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Brookfield-controlled Oaktree opens second office in India, hires Franklin Templeton exec

VCCircle

VCCircle · 4m ago

Brookfield-controlled Oaktree opens second office in India, hires Franklin Templeton exec

Oaktree Capital Management, controlled by Brookfield Asset Management, has expanded in India by opening a new office in Hyderabad's HITEC City. The firm appointed Ajay Maddali, formerly with Franklin Templeton, as HR director. This marks Oaktree's second Indian office, following Mumbai, and is part of its global network spanning 22 cities. The move aims to enhance employee development and service quality. Since 2018, Oaktree has invested $4 billion in India's private credit market.

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Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra

Inc42 · 7d ago

Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra

Varthana, an education-focused NBFC, raised INR 159 crore in debt from BlueEarth Capital, Franklin Templeton Alternative Investments, and responsAbility. The funding aims to expand affordable schools and enhance sustainable infrastructure across India. The investment includes non-convertible debentures worth INR 65 crore from responsAbility, INR 69 crore in external commercial borrowings from BlueEarth Capital, and INR 25 crore from Franklin Templeton. Varthana's FY24 net profit increased nearly sixfold to INR 30.9 crore.

NBFC Varthana secures Rs 159 Cr in debt funding

Entrackr

Entrackr · 7d ago

NBFC Varthana secures Rs 159 Cr in debt funding

Varthana, an education-focused Non-Banking Finance Company (NBFC), has secured a debt investment totaling Rs 159 crore through External Commercial Borrowing (ECB) and Non-Convertible Debentures (NCD) instruments. The combined amount is from three different global investors (including impact investors): BlueEarth Capital, Franklin Templeton Alternative Investments (Franklin Templeton AIF), and ResponsAbility. The total investment includes Rs 69 crore from BlueEarth Capital, Rs 65 crore from ResponsAbility, and Rs 25 crore from Franklin Templeton AIF. Prior to this, the Bengaluru-based company had raised $89.5 million from Omdiyar Network and others. The fresh funds will be utilized to scale the network of affordable private schools across India through innovative and enhanced access to solar and renewable energy solutions in schools, Varthana said in a press release. Co-founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana is a non-banking financial company (NBFC) that focuses on providing financial solutions to affordable private schools and students pursuing higher education. The platform offers loans for school infrastructure development, teacher training, and student education. It aims to transform affordable education in India by partnering with schools and students. Steve Hardgrave, CEO of Varthana, said, “Varthana is pleased to partner with Blue Earth Capital, Franklin Templeton AIF, and ResponsAbility in our efforts to drive impactful change in the education sector and make quality education accessible to all across India”. Over the past decade, Varthana claims to have supported over 12,000 affordable private schools and facilitated over 19,000 school loans for school expansion and renovation. With operations across 16 states and union territories, and a network of 40 branches, it also serves schools in tier II and tier III cities, making quality education accessible to underserved communities in India.

Franklin Templeton turns toward private investing as mutual-fund biz shrinks

Livemint

Livemint · 1y ago

Franklin Templeton turns toward private investing as mutual-fund biz shrinks

Franklin Templeton, a well-known asset manager, has been making moves into private markets in recent years. The company, traditionally focused on mutual funds, has acquired several private credit and real estate investment firms, aiming to tap into the growing demand for alternative assets. As traditional asset managers face challenges due to the popularity of passive investment options, diversifying into private markets allows Franklin Templeton to access a wider pool of investors. While the shift comes with its own set of challenges, the company believes it can leverage its expertise and distribution capabilities to succeed in this new direction.

Law firm JSA hires Zetwerk exec for corporate practice

VCCircle

VCCircle · 1y ago

Law firm JSA hires Zetwerk exec for corporate practice

Law firm JSA has announced the hiring of Rakesh Warrier as a retained partner in its Bengaluru office for its corporate practice. This is Warrier's second stint with JSA, having previously worked there for nine years. He also worked at Zetwerk, a B2B manufacturing services unicorn, for two years. Warrier brings a wealth of expertise in regulatory advisory services, corporate transactions, and general corporate and commercial matters to JSA. The appointment follows the elevation of 10 lawyers to partnership at JSA.

Brookfield elevates senior India exec to managing partner

VCCircle

VCCircle · 1y ago

Brookfield elevates senior India exec to managing partner

Brookfield Asset Management has promoted Arpit Agrawal to the position of Managing Partner. Agrawal has been overseeing infrastructure investments in India and the Middle East for the Canadian alternative investment firm. With assets exceeding $25 billion in real estate, infrastructure, renewable energy, and private equity in India, Brookfield aims to strengthen its presence in the region by appointing Agrawal to this senior role.

Wall Street Banks Plan Joint Stablecoin to Generate $2 Trillion Demand for U.S. Treasuries Amid $234 Billion Market and Ethereum Adoption | DeepNewz Economics

Business Bytes

Business Bytes · 1m ago

Wall Street Banks Plan Joint Stablecoin to Generate $2 Trillion Demand for U.S. Treasuries Amid $234 Billion Market and Ethereum Adoption | DeepNewz Economics

Wall Street banks are collaborating to launch a joint stablecoin, which is expected to create significant demand, potentially up to $2 trillion in the U.S. This initiative reflects a growing trend of tokenization in the financial sector, with entities like Blackrock, Franklin Templeton, and others actively participating. The stablecoin issuers currently hold approximately $230 billion in U.S. Treasuries, highlighting the increasing integration of traditional financial instruments into the digital asset space.

Global crypto platform Mudrex launches US bitcoin ETFs for Indian investors

Economic Times

Economic Times · 1y ago

Global crypto platform Mudrex launches US bitcoin ETFs for Indian investors

Y Combinator-backed crypto investment platform Mudrex has launched its US bitcoin Spot ETFs in India. The platform allows both institutional and retail investors to invest in Bitcoin spot ETFs with a minimum of $5,000 and a maximum of $250,000. Users can choose between individual spot ETFs, create personalized baskets, or opt for pre-listed options based on market capitalization. Mudrex initially listed four spot ETFs: BlackRock, Fidelity, Franklin Templeton, and Vanguard. The move comes after the US Securities and Exchange Commission approved the first-ever US-listed ETFs that track the price of bitcoin.

Brookfield Asset Management promotes India exec to managing director

VCCircle

VCCircle · 4m ago

Brookfield Asset Management promotes India exec to managing director

Brookfield Asset Management Inc, the Canadian alternative investment firm, has elevated an executive in its India branch to the position of Managing Director. This move is part of its strategic leadership expansion within its private equity operations in the country. Brookfield's India business manages assets exceeding $29 billion (approximately Rs 2.52 lakh crore) across diverse sectors, particularly in real estate.

Brookfield to invest $845 million in its second JV with Axis Energy Ventures

Livemint

Livemint · 1y ago

Brookfield to invest $845 million in its second JV with Axis Energy Ventures

Canadian asset management firm Brookfield and Axis Energy Ventures have formed a second joint venture to establish a renewable energy development platform in India. Brookfield will contribute up to $845 million of equity capital from its Brookfield Global Transition Fund II for the development and construction of power projects. Axis Energy Ventures will provide its existing pipeline of wind and solar power projects. The partnership aims to offer curated energy solutions to industry participants, including government entities, corporate customers, and emerging industries like green hydrogen. Brookfield has over 16 GW of wind and solar assets in operation or development in India.

Cyril Amarchand Mangaldas hires former Trilegal exec for corporate practice

VCCircle

VCCircle · 10m ago

Cyril Amarchand Mangaldas hires former Trilegal exec for corporate practice

Cyril Amarchand Mangaldas has appointed Rohan Ghosh Roy as an equity partner in its corporate practice, marking its seventh partner-level hire since August. Based in Mumbai, Ghosh Roy has over 15 years of experience, having previously worked at Trilegal. This is the second equity-level partner hired by Cyril Amarchand Mangaldas from Trilegal this year. In addition to Ghosh Roy, the firm has recently hired four other partners to strengthen its team. Cyril Amarchand Mangaldas has been actively expanding its practice, targeting top talent from peer law firms.

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