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KKR turns second time unlucky as it signs off an India bet with huge loss

VCCircle

VCCircle · 1y ago

KKR turns second time unlucky as it signs off an India bet with huge loss

Private equity firm KKR has decided to exit a seven-year-old investment in India, resulting in a significant loss. The firm recently made a $1.1 billion deal in the country's infrastructure investment trust, but is now cutting ties. KKR had also made a smaller investment in the solar energy sector.

Related News

KKR eyes nearly billion-dollar exit from India portfolio bet

VCCircle

VCCircle · 1y ago

KKR eyes nearly billion-dollar exit from India portfolio bet

KKR, a global private equity major, is reportedly considering an exit from its control-oriented investment in India. This follows the company's recent loss from an infrastructure play in the country. KKR has sold its complete 4.8% stake in the investment, which could result in a nearly billion-dollar exit. The move reflects the company's strategy to realign its portfolio and capitalize on profitable opportunities in the market.

KKR moves to fully monetize India infrastructure bet

VCCircle

VCCircle · 8m ago

KKR moves to fully monetize India infrastructure bet

KKR moves to fully monetize India infrastructure bet Premium Credit: Reuters Private equity firm KKR has sold another chunk of its stake in an Indian operator of power transmission lines that it first backed more than five-and-a-half years ago, marking only its third liquidity move of the year in the country. KKR, which fully exited telecom tower operator Indus Towers Ltd in ......

Rivendell signs off from a legacy India PE bet with a haircut

VCCircle

VCCircle · 11m ago

Rivendell signs off from a legacy India PE bet with a haircut

Private equity firm Rivendell PE, co-founded by Parag Saxena and Rajat Gupta, has sold off its legacy investments in India at a reduced value. Rivendell had stopped making new investments over a decade ago and had been managing its existing portfolio since then. This marks the end of Rivendell's presence in the Indian private equity market, as it moves on from its previous investments.

British International Investment signs off from an India bet with a bummer

VCCircle

VCCircle · 4m ago

British International Investment signs off from an India bet with a bummer

British International Investment (BII), the UK government's development finance unit, ended its decade-long investment in India with a significant loss. Over six years, BII made multiple rounds of investments in a single portfolio company. After heavily investing, BII has now exited this venture, marking a setback in its private equity efforts in India.

TPG Growth virtually writes off a legacy India bet with deep haircut

VCCircle

VCCircle · 1y ago

TPG Growth virtually writes off a legacy India bet with deep haircut

TPG Growth, the growth capital investment arm of TPG, has decided to write off a legacy investment in India. The private equity firm had made a $30 million investment in a company over a decade ago but has now signed off from the deal. This move indicates a substantial loss for TPG Growth in relation to its initial investment.

Elevation signs off from decade-old bet with over $100 mn

VCCircle

VCCircle · 1y ago

Elevation signs off from decade-old bet with over $100 mn

Venture capital firm Elevation Capital has sold off its stake in a decade-old investment, making a significant profit. Elevation Capital, known for its active investment in Indian technology startups, raised $670 million under a new fund two years ago. The recent stake sale indicates a successful exit from their earlier investment. Further details about the sale and the specific investment were not provided in the summary.

Twitter India Turns Profitable In FY23

Inc42 · 1y ago

Twitter India Turns Profitable In FY23

Twitter Communications India, the Indian subsidiary of X Corp. USA (formerly Twitter Inc.), has reported a net profit of INR 30 Cr in FY23, making it profitable. The company's operational revenue has increased by 32% to INR 208 Cr, covering up the net loss of INR 32 Cr in FY22. After Elon Musk's acquisition of the company, several changes were made, including the firing of CEO Parag Agrawal and scaling down the India team. Twitter Blue, a premium subscription service, was introduced in India, and the company celebrated its first anniversary under new ownership.

KKR-backed Livspace's topline rises 21% in FY24, EBITDA loss halves

VCCircle

VCCircle · 11m ago

KKR-backed Livspace's topline rises 21% in FY24, EBITDA loss halves

KKR-backed Livspace, a home interior and renovation company, has reported a 21% increase in revenue and a halving of its adjusted EBITDA loss for FY24. The company's revenue reached INR 1,185 crore ($158 million) and its adjusted EBITDA loss decreased to INR 246.7 crore. Livspace has seen strong growth in the residential segment, particularly in the premium and mass premium sectors. It expects to achieve profitability by the end of the year and is considering an India listing within the next 18-24 months. Livspace offers a range of home interior solutions and has a network of over 90 stores in India.

Multiples PE signs off with barely anything to show from decade-old bet on a group

VCCircle

VCCircle · 11m ago

Multiples PE signs off with barely anything to show from decade-old bet on a group

Multiples PE, a private equity firm led by Renuka Ramnath, has exited from a decade-old portfolio company with a loss. This marks the completion of their exit from the group that they initially invested in eight years ago. Earlier this year, Multiples PE had already made a partial exit from a financial services company. The firm's decision to exit the group highlights the challenges faced in this investment and the lack of substantial returns.

India SME Investments set to strike second bet from latest fund

VCCircle

VCCircle · 10m ago

India SME Investments set to strike second bet from latest fund

India SME Investments, a private equity firm that focuses on small-and-medium enterprises, is about to close its second investment from its latest fund. The firm specializes in contract development and manufacturing organization (CDMO) and is currently raising its second fund. Mumbai-based India SME Investments aims to support and nurture small businesses in India's vibrant SME sector.

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