Dubai: Greenstone Equity Partners, a Dubai-based fund placement firm, said it has entered into a strategic partnership with Multiples Alternate Asset Management Private Limited (Multiples), an India-based investment advisory firm, to attract investors from the GCC to high reward investment opportunities offered by the south Asian country.
The new collaboration will work towards raising capital for Multiples Fund II, a $500 million (Dh1.836 billion) India-specific, sector agnostic private equity fund, which aims to invest in mid-to-late stage opportunities and mid-cap control or buy-out investments with a strong preference for opportunities in sectors that are consumer-focused.
“We are delighted to collaborate with Multiples, whose entrepreneurial mindset and distinctive investments approach are invaluable assets for us,” said Omar Al Garabally, president of Greenstone Equity Partners. “Driven by their experienced founder, Renuka Ramnath, Multiples has a strong reputation in the Indian private equity industry as a leader in attracting deal flow in a mature and well intermediated market. Combined with our expertise and knowledge of the GCC region, we are confident that this partnership will expose our investors to opportunities with superior returns.”
Renuka Ramnath, founder of Multiples Alternate Asset Management Private Limited, said: “At multiples, we strongly believe that in an evolving economy like India we need to have a flexible investment approach in companies of different sizes and stages.”
Private equity investments in India witnessed a phenomenal year in 2014 with $12.7 billion invested across 480 deals. Despite only a 7 per cent increase in the number of deals compared to the previous year, deal values rose by 30 per cent in 2014.
