ChrysCapital raises $1.25bn abroad

Homegrown private equity major ChrysCapital on Thursday announced closure of its fifth fund worth $1.25 billion (about Rs 5,000 crore), taking up its total asset under management to $2.25 billion.

The money has been raised from 75 global investors from different parts of the world and it would be deployed in a span of 2-3 years, ChrysCapital senior managing director Ashish Dhawan told reporters in New Delhi.

The company has identified six core sectors for investment, including infrastructure, financial services and pharma, he said, adding that it would also actively consider partnering domestic companies in overseas acquisition ventures.

"With the fifth fund, we will now be able to deploy larger amount of growth capital as well as explore buy-out opportunities," he said. The average deal size would be 30-300 million (Rs 120-1200 crore) and the holding period would be in the range of 4-7 years, he added.

Speaking on the current exposure, he said the fund house has made investment in 40 companies since its inception in 1999. Some of the major names include Idea Cellular, Suzlon, Moserbaer, Spectramind, Axis Bank (earlier UTI Bank), Yes Bank and Hathway, he added.

Dhawan said so far the returns had been good. The company has paid a return of 60 per cent in January 2000.