Asian hedge fund Altima India Master Fund is looking at picking up 14.39 per cent in AIM listed The Indian Film Company. Altima India Master Fund is interested in acquiring 7,913,500 ordinary shares in the company, which represents 14.39 per cent of the company's issued share capital. Altima India Master Fund is a controlled undertaking of Altima India Master Fund Limited and both companies are domiciled in the Cayman Islands. The fund is advised by Altima Partners Limited, a UK partnership, authorised and regulated by the FSA. […]

UK based private equity firm 3i will retain presence in India even as an ongoing global restructuring programme prompts the firm — said to be the world’s largest listed PE outfit — to close down its key Hong Kong and Shanghai offices. Although the move is aimed at pruning costs, sources said that it also underscores the growing importance of the Indian market compared with other markets in Asia. The move to continue operations here also comes against the background of 3i’s recent plan to cut its global headcount by about 15% owing to the tough market conditions. The offices that will continue to operate include Mumbai and Singapore. The Mumbai office will coordinate the firm’s investments for companies across the country, while Singapore will be the hub for the whole of Southeast Asia. 3i Singapore will be responsible for investments in Singapore, Indonesia, Malaysia and Thailand. […]