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South Korean sovereign fund KIC names India head, opens Mumbai office

VCCircle

VCCircle · 1y ago

South Korean sovereign fund KIC names India head, opens Mumbai office

South Korean sovereign wealth fund, Korea Investment Corporation (KIC), has opened an office in Mumbai and appointed an India head. The office will aid KIC in research, deal sourcing, and networking with local investment managers. KIC's Mumbai office will focus on private equity, venture capital, real estate, and infrastructure investments. This move follows the trend of global pension funds and sovereign wealth funds expanding their presence in India. KIC's other overseas offices are located in New York, London, Singapore, and San Francisco.

Related News

Gaming firm Krafton backs South Korean IMM Investment's maiden India fund

Economic Times

Economic Times · 10m ago

Gaming firm Krafton backs South Korean IMM Investment's maiden India fund

Krafton India, the local unit of the South Korean maker of Battlegrounds Mobile India, has become the anchor investor in IMM Investment's maiden India fund. The fund will focus on backing startups across sectors such as consumer tech, SaaS, fintech, gaming, media, and deep tech. Krafton India's strategy includes a fund-of-funds approach, allowing it to tap into high-potential sectors beyond its core focus. So far, Krafton has invested about $170 million in several Indian startups.

Why Chona Family Office hit a pause on LP investments

VCCircle

VCCircle · 11m ago

Why Chona Family Office hit a pause on LP investments

Chona Family Office, the investment office of the former promoter family of Havmor Ice Cream Ltd, has decided to pause its LP investments. The family office, which has been investing across different asset classes for several years, has now shifted its alternatives strategy. The office was established after Havmor Ice Cream was acquired by South Korean firm Lotte Confectionery in 2017. No further details were provided on the reasons behind this decision.

VDV Group taps institutional investor for Mumbai luxury housing project

VCCircle

VCCircle · 1y ago

VDV Group taps institutional investor for Mumbai luxury housing project

Real estate company VDV Group has secured funding from an institutional investor to develop a luxury housing project in South Mumbai. The 41-storey project, called The Altitude, will consist of 184 housing units and is located in Tardeo, South Mumbai. VDV Group, based in Mumbai, has previously focused on developing hotels and office campuses.

PharmEasy plans ₹3,500 cr rights issue next week

Livemint

Livemint · 2y ago

PharmEasy plans ₹3,500 cr rights issue next week

Temasek Holdings, TPG, Prosus, CDPQ, Eight Roads, LGT, Abu Dhabi sovereign wealth fund ADQ, Amansa, OrbiMed and Sunil Kant Munjal’s family office have already committed to invest as much as ₹2,000 crore

HSBC hires Asia head for ultra-HNIs, names insider to lead India family office coverage

VCCircle

VCCircle · 1y ago

HSBC hires Asia head for ultra-HNIs, names insider to lead India family office coverage

HSBC has made two senior hires in its private banking sector to improve its coverage of ultra-high net worth (UHNW) clients in Asia. Kerri Lim, previously of UBS, has been appointed head of UHNW for Asia, while Pritash Mathur has become head of family office coverage for global India and Global South Asia. The hires come just months after the bank brought in Edith Wong as head of the UHNW segment in North Asia, and Sam Wong as UHNW segment development manager in Asia.

Hyundai seeks expansion, higher valuation with India IPO

Livemint

Livemint · 1y ago

Hyundai seeks expansion, higher valuation with India IPO

Hyundai Motor is planning a $3 billion IPO in India to expand in one of the fastest-growing markets globally and address the "Korea discount" affecting its valuation at home. The IPO will help Hyundai accelerate its growth in India, reduce reliance on its parent company for funds, and fund the launch of electric vehicles and infrastructure in the country. Hyundai's valuation for the India unit IPO is estimated to be around $30 billion, potentially boosting valuations back in South Korea. The IPO plans come amid India's surging stock markets and aim to address the lower valuations typically associated with South Korean companies.

Kris Gopalakrishnan’s family office set to float maiden fund for direct startup bets

VCCircle

VCCircle · 1y ago

Kris Gopalakrishnan’s family office set to float maiden fund for direct startup bets

Kris Gopalakrishnan's family office, Pratithi Investments, is preparing to launch its first investment fund to make direct investments in startups. With assets worth over $500 million, the fund aims to support promising startup ventures. Kris Gopalakrishnan, the former head of Infosys, is known for his strong interest in supporting the startup ecosystem in India.

Not focusing on office assets in India, to grow warehousing biz: Investcorp’s Sharma

VCCircle

VCCircle · 1y ago

Not focusing on office assets in India, to grow warehousing biz: Investcorp’s Sharma

Bahrain-based alternative asset manager Investcorp plans to focus on select strategies as it expands its presence in India. Gaurav Sharma, head of investments for Investcorp in India, stated that the company is not currently concentrating on office assets but rather aims to grow its warehousing and residential businesses. Investcorp was one of the most active private equity-style investors in India last year and is looking to further develop its investments in the South Asian country.

HSBC hires Asia head for ultra-HNIs, names insider to lead India family office coverage

VCCircle

VCCircle · 1y ago

HSBC hires Asia head for ultra-HNIs, names insider to lead India family office coverage

HSBC has made two senior hires in its private banking division to strengthen its coverage of ultra-high net worth (UHNW) clients in Asia. Kerri Lim, formerly of UBS, has been appointed as the head of UHNW for Asia. She brings over 20 years of experience in the financial industry. The bank has also hired Pritash Mathur as head of family office coverage for global India and Global South Asia. HSBC has been expanding its UHNW team in a bid to better serve clients in this market segment.

National Investment and Infrastructure Fund appoints former Actis exec as MD & CEO

VCCircle

VCCircle · 1y ago

National Investment and Infrastructure Fund appoints former Actis exec as MD & CEO

The National Investment and Infrastructure Fund (NIIF) has appointed Sanjiv Aggarwal, former Asia head for energy investments at private equity firm Actis, as its managing director and CEO. Aggarwal will assume his new role on 1 February and take over from interim head Rajiv Dhar. NIIF is a quasi-sovereign fund of the Indian government and focuses on investing in infrastructure and other sectors. Aggarwal's appointment comes after the exit of the former MD and CEO Sujoy Bose, who stepped down in September 2022.

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