Mon, Jun 1, 2015

India Roundtable: Waiting for Takeoff

After the heady fundraising years leading into the financial crisis, Indian private equity has had a much tougher time of late. What does the road ahead look like for investors? We would like to share with you the views and expectations of four leaders in private equity whose recent discussion appears in the Private Equity International India country report, which you can download free by filling out the form below.

Many funds have been unable to return capital to shareholders over the past three or four years, and a number of big international firms are exiting the market. While that negativity seems to have been swept away with Modi’s election victory, the general mood of PEI’s four roundtable participants was one of cautious optimism that better times were round the corner.

There was certainly an acknowledgement that short-term obstacles remained, but Fairwinds CEO Ramesh Venkat, Religare Global Asset Management CEO Nalin Nayyar, IL&FS CEO Dr. Archana Hingorani and Kroll Managing Director and Head of India Reshmi Khurana were in agreement that Indian private equity would be in a much better place five years down the line.
 
A few key themes covered in report include:

  • Environment for capital raising has improved after Modi’s victory
  • India’s new government and structure creates a very rosy picture for growth in India over the next five to seven years
  • LPs are increasingly taking a closer look at a GP’s track record, governance and experience prior to investment
  • Nuances when dealing with local business owners and promoters; you need to know who is really calling the shots
  • GPs today have a much better understanding of corporate governance and value of reputation-focused due diligence
  • Corporate governance in India is evolving positively, led by a new generation of entrepreneurs


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