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Realty slump hits Trikona Capital, to be wound up

The slump in the real estate market has caused investors in the £250 million Trikona Capital, the India real estate fund of Trikona Trinity Capital, to demand that its fund managers “dispose of all its assets in an orderly fashion”. Trikona Trinity Capital is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. This is the first time foreign hedge fund investors have asked managers of a real estate fund to exit Indian investments. A couple of months ago, KSK Emerging Indian Energy Fund had to be wound up after shareholders, which included large hedge funds, demanded that the company be liquidated and the money invested by them returned. […]

Aditya Birla PE plans to raise $2 bn in five years

The private equity (PE) arm of Aditya Birla Group plans to raise about $2 billion in PE capital within the next five years. Sources close to the development said that the company would launch at least four PE funds, each of $400-500 million in size, over the next five years to reach the top-five slot in the industry. This, the company said, would make the forthcoming funds larger than its $250-million maiden fund, which the company is currently in the process of raising. Although the company has not finalised the sectors where the forthcoming funds will be invested, the latest PE entrant said that they are likely to be sector-agnostic, similar to the present one. […]

Crompton to pick up 41 pet cent stake in power generator Avantha news

Continuing its acquisition spree, electric equipment manufacturer Crompton Greaves Ltd said it will pick up a 41 per cent stake in Avantha Power and Infrastructure Ltd, a part of the Avantha group of companies. Crompton Greaves will invest Rs227 crore in APIL, picking up shares of the face value of Rs10 at a book value of Rs11. The Avantha group arm is an independent power producer engaged in the generation, transmission and distribution of electricity. […]