Bain Capital Partners’ purchase of shares held by previous PE investors - General Atlantic and Oak Hill Capital - in NYSE-listed, Gurgoan-based BPO firm Genpact for approximately $1 billion was the largest PE investment during Q3’12 by a huge margin, with no other investment crossing the $200 million figure. The second largest investment during the period was SBI-Macquarie’
Led by the Genpact deal, IT & ITES companies attracted $1,295 million (51% of the value pie) across 45 reported investments during Q3’12. In other IT & ITES transactions, Blackstone acquired a 6.1% stake in publicly listed Financial Technologies India through open market transactions;
Venture Capital type deals accounted for 54% of the investments (in volume terms) during Q3’12 compared to 42% in the corresponding period a year ago. The share of Late Stage deals was 21%, while the share of listed company investments was 13% during the latest quarter.
Private Equity-Real Estate firms made 10 investments (amounting to US$394 million across nine deals with disclosed values) during the quarter ended September 2012. The volume of investments was down by 44% compared to the 18 investments in the same period in the previous year (which witnessed $726 million being invested across 13 transactions with disclosed values), but up by an almost similar figure compared to the seven investments ($172 million across six deals) during Apr-Jun 2012.
Blackstone’s proposal to acquire a stake in the office space portfolio of Bangalore-based developer Embassy Property Developments for a reported $230 million (Rs.1,300 crore), was the largest reported during Q3'12.