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Investments by <keyword id="34499" type="General" weightage="20" keywordseo="private-equity" source="Orion">private equity</keyword> (PE) and <keyword id="6357097" type="General" weightage="20" keywordseo="venture-capital" source="Orion">venture capital</keyword> (VC) funds to homegrown companies declined to $27.9 billion across 697 transactions this year (as of December 20), compared to $47.62 billion across 1,364 deals in 2022, according to a new report. 2023 saw more money being pulled out from the country by private equity players, with overall exits reaching $19.34 billion from 248 companies, in comparison to 233 exits worth $18.45 billion in 2022, according to data from Venture Intelligence and industry body IVCA. Meanwhile, venture <keyword id="989750" type="General" weightage="20" keywordseo="capital-funding" source="Orion">capital funding</keyword> for <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword> declined by 72 per cent this year compared to last year. The new-age companies in the country received $7.5 billion across all stages (as of December 15), compared with $25 billion last year, according to the data. The fall in <keyword id="6357455" type="General" weightage="20" keywordseo="funding" source="Orion">funding</keyword> this year is chiefly attributed to slow late-stage deals (Series D and above), which more than halved to $3.5 billion from $11.70 billion in 2022. The early-stage funding deals slowed down. The number of deals declined to almost half to 414 rounds from 871 rounds in the year-ago period, according to the report. Growth-stage funding rounds dropped to $1.9 billion via 99 deals, compared with $6.84 billion from 230 deals in 2022. Making a dent in India's startup growth story, the country slipped to fourth position in the global ranking among the highest-funded geographies in 2023, as it recorded lowest funding in five years. After grabbing the third spot globally in 2021 as well as in 2022, India ranked fourth behind the US, the UK and China this year, receiving only $7 billion in total funding (till December 5), according to recent data by global market intelligence platform Tracxn. In the third quarter (Q3) this year, India even slipped to fifth position among the highest-funded countries -- behind the US, the UK, China and France.

PE, VC investments in domestic companies drop to $27.9 bn in 2023

<ul><li>The September quarter of 2023 saw a total of 40 deals valued at $1.7 bn, which is a fall of 30% in value terms.</li><li>A total of 30 private equity deals were executed in the BFSI space, cumulatively valued at $566 million.</li><li>Investors show preference for credit-based financial companies with strong profitability metrics, but are still hesitant to make new investments until they gain more confidence. </li></ul> <keyword id="2023017" type="General" weightage="20" keywordseo="Unicorns" source="Orion">Unicorns</keyword> are likely to become scarcer as the funding winter is nowhere near over. The go-go days of private equity investments may be well behind us going by quarterly data on deals. With two of the biggest private equity players not committing any money to India’s startups this year, both volume and value of deals are on the downswing. The September quarter of 2023 saw a total of 40 deals valued at $1.7 bn, which is a fall of 30% in value terms. Private equity investors are looking at exits rather than investing in new businesses. However, investor interest is holding up in the banking and financial services sector. In the last quarter, a total of 30 private equity deals were executed in the sector, cumulatively valued at $566 million. Among these transactions, fintech claimed the spotlight with a 30% share in terms of deal volumes, even though sequentially value and volume showed a dip. However, banking and non-banks rule the charts with respect to values, contributing a 77% share in overall investments. According to the <keyword id="131240" type="General" weightage="80" keywordseo="grant-thornton" source="Orion">Grant Thornton</keyword> Bharat Financial Services Dealtracker Report, volumes have seen a 23% decline, from 52 deals last quarter. The slowdown is only seen in private markets as public markets continue to shine bright, with India outperforming other emerging markets in the region this year. According to the Dealtracker Report, investors are showing interest in credit-based financial companies with strong profitability indicators, but they are still hesitant to make new investments until they gain more confidence. Vivek Iyer, Partner, National Leader Financial Services Risk Advisory, Grant Thornton Bharat, said, “As we navigate a landscape marked by increasing interest rates and global inflation, the balancing act of central banks becomes crucial to maintaining economic stability. The recent pause in interest rate hikes in India’s monetary policy meetings reflects this cautious approach, especially in the face of global uncertainties and geopolitical factors. What stands out is the evolving investment trend, with private equity funds focusing on primary investments in fintech, banks, and NBFCs, particularly in areas where capital defines growth Strategy.” It is apparent that investors are now looking at profitability and sustainability of the business model. According to Grant Thornton, investors are no longer chasing growth and valuations. Instead they are looking for clear and achievable paths to profitability. Mergers and Acquisitions landscape: The <keyword id="101447" type="General" weightage="20" keywordseo="ma" source="Orion">M&amp;A</keyword> landscape witnessed 10 deals at $1.1 billion. While volumes fell by 9% from the previous quarter, values saw an upsurge of 2047%. Domestic mergers accounted for 60% of the volumes, while cross-border transactions, particularly in the inbound sector, contributed to 60% of the values in the M&amp;A activity. The top deal was Rapyd Financial Networks Ltd.’s inbound <keyword id="30334" type="General" weightage="20" keywordseo="acquisition" source="Orion">acquisition</keyword> of PayU Payments Pvt Ltd for $610 million. Private Equity (PE) landscape: According to Grant Thornton’s report, trends point to a build up of investor interest in fintech, banking, and non-banking financial company (NBFC) sectors. In the last quarter, a total of 30 deals were executed in the PE sector, cumulatively valued at $566 million. This marks a 27% and 76% decline in volumes and values respectively as compared to the previous quarter. Among these transactions, fintech claimed the spotlight with a 30% share in terms of deal volumes. However, banking and NBFC segments took center stage with respect to values, contributing a 77% share. Bain Capital’s investment of $176 million was the top deal in the PE landscape. While private equity funds have been actively involved in exit strategies across various segments, data suggests a renewed interest in fresh investments. Rather than pursuing new acquisitions, most PE funds have been channeling their capital into existing investments, bolstering their positions and financing expansion initiatives in the evolving financial landscape. Initial Public Offering Activity: Two IPOs were launched, collectively valuing a substantial $186 million, marking a change in comparison to the previous quarter when no IPOs were observed. Further, the quarter saw three QIPs amounting to an impressive $1.2 billion. Notably, the banking sector played a dominant role in the QIP market, contributing a significant 54% to the overall QIP values for the quarter. This uptick in IPO and QIP activity shows a growing investor appetite and interest in the sector’s offerings. Global investors are showing increased interest in financial services, particularly lending- focused businesses, due to elevated global interest rates. Key areas for credit growth in India include affordable housing, MSMEs, and education. The insurance sector is also poised for growth with regulatory changes and global standards gaining prominence, although substantial investments are yet to come. Fintech remains attractive to investors, but data privacy, influenced by the DPDP Act, 2023, will significantly impact the financial services sector, particularly fintech companies, prompting a re-evaluation of their operational strategies.

Deal Tracker: PE investments fall by 30% to $1.7 bn in September quarter, BFSI rules the roost

With the promoters of two <keyword id="100080" type="General" weightage="20" keywordseo="housing-finance" source="Orion">housing finance</keyword> companies exiting the business, is there a shake out happening in the sector? The two exits -- small and the big ones -- were announced in quick succession. The Pune-based <keyword id="25607" type="General" weightage="80" keywordseo="poonawalla" source="Orion">Poonawalla</keyword> Fincorp Ltd announced the proposed sale of its stakes in the housing finance subsidiary Poonawalla Housing Finance Limited (formerly Magma Housing Finance Limited) to Perseus SG Pte. Ltd affiliated to TPG Global LLC for Rs 3,900 crore. A couple of days earlier, <keyword id="59288" type="General" weightage="80" keywordseo="centrum" source="Orion">Centrum</keyword> Housing Finance Ltd announced the binding agreement to acquire the housing finance business of <keyword id="15799445" type="General" weightage="80" keywordseo="national-trust-housing" source="Orion">National Trust Housing</keyword> Finance Limited for an undisclosed price. An affordable housing finance company National Trust Housing has a loan book size of over Rs.300 crore and is present in 17 locations in four southern states. As per the agreement, Centrum Housing will acquire the housing finance business including the loan portfolio, branches and employees. However, industry players and experts told IANS that the two exists doesn't mean a shake out or consolidation happening in the housing finance sector but shows the potential and interests of players. If a private equity major like TPG is investing in the housing finance sector, it shows the growth potential, industry experts told IANS. In February 2020, a fund managed by Morgan Stanley PE Asia, invested approximately Rs 190 crore to acquire a minority stake in Centrum Housing Finance. On the exit of Poonawalla Fincorp, Sanjay Agarwal, Senior Director, CARE Ratings told IANS: "They probably want to focus on consumer finance. Housing finance is a long term business and different from consumer finance." According to Agarwal, the sale and purchase of two housing finance companies shows a lot of interest in the market and is positive for the sellers and buyers. He said the credit loss for housing finance companies is very low but needs lots of capital. "The timing of the sale by Poonawalla is good as the market is picking up. I will not say consolidation is happening in the sector," a top official of a housing finance company told IANS on the condition of anonymity. As regards to the Centrum group's acquisition of National Trust Housing, an industry official told IANS: "The buy gives Centrum a jump start in the Southern market. It would have taken them about two years to establish a similar presence." The acquisition of National Trust Housing consolidates Centrum Housing presence in South India, and will help to further increase the penetration across the chosen geographies, Jaspal Bindra, Executive Chairman, Centrum Group said. "The market is growing and the pie is large enough for all to grow. There are opportunities for all the players -- big and small. This is driven by the need for housing and the Government's thrust on Housing for All. There is a fair degree of growth potential in the next few years," Lakshminarayanan Duraiswamy, Managing Director, <keyword id="680422" type="General" weightage="80" keywordseo="sundaram-home-finance" source="Orion">Sundaram Home Finance</keyword> Ltd told IANS. Big banks and housing finance companies are coming into small towns and this in turn makes smaller players like us to explore opportunities in Tier 3 and 4 towns, Duraiswamy added. "We registered disbursements of Rs 2,350 crore last year. In the first half of this year the disbursement figure is close to Rs 1,800 crore. Our target is to grow this year by 40 per cent-50 per cent and are on track to achieve this target driven by growth from Tier 2 and 3 markets. The smaller towns are growing faster for us and the self-employed segment is growing faster than the salaried class," he said. The housing finance companies like Sundaram Home Finance, Aptus Value Housing Finance India Ltd have also diversified their business by getting into financing small businesses which gives them higher spread. Typically, housing finance companies follow a monoline business model with focus on home loans and loan against property (LAP), Duraiswamy said. Sundaram Home Finance's entry into small business loans against mortgage of residential property is a diversification to a new segment of borrowers and an entry into Tier 3 and 4 towns, Duraiswamy said. According to him, by the end of this year, the small business loan book will be about Rs 15 crore and by the end next fiscal it will be about Rs 150 crore. "In the long term, we hope to take the contribution from this segment to about 10 per cent of our overall disbursements," Duraiswamy said. Sundaram Home Finance is also planning to expand its distribution network for home loans by opening around 15 new branches in Tier 2 and 3 towns in Tamil Nadu, Karnataka and Andhra Pradesh by March 2023. Be that as it may, although the banks continued to dominate and accounted for 63 per cent of the overall housing finance portfolio, housing finance companies outshone in FY22, said CARE Ratings in a research report. After reporting modest growth for two consecutive years, housing finance companies reported a double-digit growth rate in FY22 at 11 per cent y-o-y, surpassing the 7 per cent growth rate reported by the banks, CARE Ratings said. "Consequently, the share of HFCs, which has been contracting for th e past two consecutive years, improved in FY22 from 36 per cent to 37 per cent. Improvement in the macroeconomic environment, low-interest rate regime, and initial signs of recovery witnessed in the real estate sector were the key catalysts for the high growth," CARE Ratings report notes. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-to-outpace-world-average-growth-in-2023-can-it-duck-global-headwinds/articleshow/96256621.cms">Indian economy to outpace world average growth in 2023 – Can it duck global headwinds?</a> <a href="https://www.businessinsider.in/business/startups/news/how-many-startups-turned-unicorns-in-2022-in-india-check-out-the-list/articleshow/96248261.cms">New Indian unicorns get rarer in 2022 as funding winter sets in</a>

Two promoter exits - shakeout in housing finance sector?

<ul><li><keyword id="34499" type="General" weightage="20" keywordseo="private-equity" source="Orion">Private equity</keyword> investments in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s <keyword id="6354553" type="General" weightage="20" keywordseo="Real-estate" source="Orion">real estate</keyword> sector witnessed a 17% decline in 2022 to $5.1 billion. </li><li>The overall number of PE investment deals also came down significantly to 29 in 2022 from 52 last year. </li><li>Office and warehousing sectors emerged as PE favourites, accounting for 82% of the total investments this year. </li></ul>Private equity (PE) investments in India’s real estate sector registered a 17.2% decline in 2022, hurt by the troika of elevated inflation, rising interest rates and geopolitical tensions. Overall, PE firms invested $5.1 billion in the country’s real estate sector in 2022, down from $6.2 billion in 2021. According to a report by <keyword id="151748" type="General" weightage="100" keywordseo="knight-frank-india" source="Orion">Knight Frank India</keyword>, the office, residential and retail sectors contributed most to this decline – PE investments in these three sectors fell between 19-63% from last year. “The investment climate in India moderated in 2022 as investors grew more cautious in response to escalating international tensions and concerns about rising inflation and interest rates,” said Shishir Baijal, chairman and managing director, Knight Frank India. <cmsannotation type="cmsannotation" annotationid="Warehousing: A standout" comment="subhead" text="Warehousing: A standout">Warehousing: A standout</cmsannotation> The warehousing sector, however, was the only sector that saw a growth in PE investments over last year – $1.9 billion in 2022 compared with $1.3 billion in 2021. The demand for warehouses was due to a strong demand from manufacturing, e-commerce and logistics companies, the Knight Frank India report said, adding that the need for modern warehouses and a dearth of organised assets in this sector led to several greenfield investments. Despite the growing appeal of warehousing, the office sector managed to draw the largest share of PE investments – accounting for 45% of the total investments. Warehousing came in second with a share of 37%, according to the Knight Frank India report. <div type="image" title="PE investments sector-wise 2022." msid="96338821" hostid="261" sizebytes="16502" caption="&amp;lt;p&amp;gt;PE investments in real estate in 2022&amp;lt;/p&amp;gt;"></div> The office sector saw most of its $2.3 billion PE investments diverted to Mumbai and Bengaluru in 2022, the report said. <cmsannotation type="cmsannotation" annotationid="Fewer, but bigger deals" comment="subhead" text="Fewer, but bigger deals">Fewer, but bigger deals</cmsannotation> According to the report, PE firms entered into 29 real estate deals this year, down 44% from the 52 deals entered into last year. While the overall number of deals, and the total investments are down in 2022, the average deal size has registered an increase of 49% to $177 million, from $119 million last year. Overall, PE firm exits declined 41% in 2022 to $822 million, from $1.39 billion a year ago – an indication that investors may be looking for longer-term gains. <cmsannotation type="cmsannotation" annotationid="Investments to improve next year" comment="subhead" text="Investments to improve next year">Investments to improve next year</cmsannotation> The investment climate is expected to improve in 2023 thanks to moderating inflation, and as a result, slower rate hikes. For instance, India’s retail inflation saw a 5.88% rise in November – the lowest in the past 11 months and within the Reserve Bank of India’s comfort band. “Looking forward to 2023, we anticipate that inflation for most of the nations and the pace of rate hikes will moderate. With investors paying attention to the economy, governmental and regulatory framework, business results, and valuations, investments in India are expected to improve,” Baijal added. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-gainers-and-losers-stocks-of-2022-in-india/articleshow/96332417.cms">Best and worst performing stocks of 2022</a> <a href="https://www.businessinsider.in/stock-market/news/ipos-pick-up-steam-in-last-three-months-of-2022-strong-pipeline-likely-to-propel-listings-in-2023/articleshow/96325621.cms">IPOs pick up steam in last three months of 2022 – Strong pipeline likely to propel listings in 2023</a> <a href="https://www.businessinsider.in/thelife/personalities/news/i-am-glad-i-fd-up-so-much-in-life-that-it-is-content-now-says-ankur-warikoo/articleshow/96282722.cms">I am glad I F**%*D up so much in life that it is content now says Ankur Warikoo</a>

PE investments in real estate decline 17% in 2022 due to inflation, rising interest rates – Knight Frank India

Welcome to <keyword id="9075000" type="UNKNOWN" weightage="60" keywordseo="wall-street-insider">Wall Street Insider</keyword>, where we take you behind the scenes of the <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">finance</keyword> team's biggest scoops and deep dives from the past week. <a href="http://newsletter.businessinsider.com/join/4np/wall-st-insider&amp;hash=f4e91136c13f3c40c496d77bc73475027502">If you aren't yet a subscriber to Wall Street Insider, you can sign up here.</a>Dealmaking activity has fallen off a cliff this year, as executives focus on steering their existing businesses through the havoc caused by the coronavirus crisis instead of seeking out new deals. <a href="https://www.businessinsider.com/coronavirus-strikes-down-global-ma-as-companies-keep-their-distance-2020-6">Data from Refinitiv</a> released this week showed that the drop in activity was more pronounced for bigger <a href="https://www.businessinsider.com/investment-banking-advisory-dealmaking-coronavirus-lifestyle-travel-clients-2020-4">M&amp;A transactions</a>, with the overall value of deals worth more than $5 billion down 53% year-on-year.As Alex Morrell reports, the fading memories of the megadeals of the last few years are hitting boutique banks. Independent investment bank Perella Weinberg Partners was ramping up its footprint after an explosive start in 2016, landing one of the largest mergers in history — AT&amp;T's $100 billion deal for Time Warner. But since then, deals have been scarce for Perella's media and telecom team, and the group has been <a href="https://www.businessinsider.com/banking-jobs-most-at-risk-from-wall-street-layoffs-2020-6">gutted by departures</a> in 2020. Alex dives into how experienced media and telecom bankers have been laid off, quietly asked to leave, or departed for other firms.Read the full story here: <h2><a href="https://www.businessinsider.com/perella-weinberg-reshuffles-media-telecom-banking-unit-woody-young-chairman-2020-6">After flashy hires and a big buildout, Perella Weinberg's media and telecom team has been gutted. We tracked the exodus — and what it says about the landscape for blockbuster M&amp;A deals.</a></h2>Over in the world of real estate, big office deals are stalling as banks grow cautious about extending debt over concerns about the future of the workplace. Dan Geiger reports on <a href="https://www.businessinsider.com/real-estate-investors-struggle-raise-financing-to-buy-office-2020-7">how this is especially perilous for real estate investors who have pledged hundreds of millions of dollars to enter into contracts</a> for buildings like the Transamerica Pyramid in San Francisco. Despite the uncertainty of when or how people will occupy spaces like they did in the pre-pandemic era, there are real estate players looking far into the future. As Dan reports, a Las Vegas landlord, which owns some of the strip's biggest casino resorts like Caesars Palace, is plotting the<a href="https://www.businessinsider.com/caesars-palace-owner-vici-properties-las-vegas-eldorado-merger-2020-7"> city's next mega-project</a>. Recruiting for executives to lead new projects is also picking up, reports Alex Nicoll,<a href="https://www.businessinsider.com/real-estate-recruiting-turns-to-strategic-roles-and-industrial-2020-7"> who spoke to four recruiters on the roles they're looking to fill. </a>Keep reading for a look at how <keyword id="34499" type="POSITION" weightage="60" keywordseo="private-equity">private equity</keyword> and hedge fund firms are ramping up their efforts in impact investing; some due diligence drama between Anthony Scaramucci and Merrill Lynch Wealth Management; and the story behind a JPMorgan trading team's hot streak. Have a great holiday weekend, Michelle Abrego(Meredith is on vacation and will be back next week.)<h2>PE goes ESG</h2>The coronavirus pandemic and the ongoing reckoning of racial justice and equity in the workplace have put ESG investing at the forefront of the conversations in the asset management business.As Casey Sullivan and Bradley Saacks report, some private-equity firms and activist hedge funds are committing resources and capital to ESG and impact investing.Read the full story here: <h2><a href="https://www.businessinsider.com/apollo-carlyle-private-equity-hiring-data-analysis-impact-investing-2020-6">Big investors like Apollo and Carlyle are clamoring for a piece of the $30 trillion ESG space. We spoke to 15 insiders about how they're ramping up hires, raising money, and striking data-driven deals.</a></h2><h2>The Mooch vs. Merrill </h2><div type="image" title="Anthony Scaramucci" height="1333" width="1777" msid="76787378" hostid="261"></div>SkyBridge founder Anthony Scaramucci sent a 6-page, strongly-worded memo to Andy Sieg, the president of Merrill Lynch Wealth Management, on Thursday after the company downgraded its flagship fund, Meghan Morris reveals. In a leaked memo seen by Business Insider, Scaramucci said Merrill Lynch published an inaccurate due diligence report. He called the firms' relationship "yet another casualty of the pandemic," writing that the report "reflects a breakdown in communication" between the firms – one he didn't think would happen if executives had met in person.Read the full story here:<h2><a href="https://www.businessinsider.com/anthony-scaramucci-skybridge-sieg-merrill-lynch-leaked-memo-downgrade-2020-7">LEAKED MEMO: Anthony Scaramucci mourns his relationship with $2.2 trillion Merrill Lynch after it downgraded SkyBridge's main fund</a></h2><h2>Victorious volatility trades</h2><div type="image" title="stocks volatility trading coronavirus" height="3767" width="5023" msid="76787380" hostid="261"></div>Markets have produced bizarre and historic results in the first half of 2020, creating stark swings and diverging fortunes for traders.As Alex Morrell reports, that's especially true in the world of equity derivatives and the traders that bet on volatility, where some investment funds have flamed out spectacularly while many <keyword id="42111" type="COMPANY" weightage="60" keywordseo="Wall-Street">Wall Street</keyword> banks have minted hundreds of millions in revenues.Read the full story here: <h2><a href="https://www.businessinsider.com/jpmorgan-volatility-trading-revenues-700-million-2020-6">JPMorgan volatility traders raked in $700 million through June — 3 times what they brought in for all of 2019. Here's how they outpaced Goldman Sachs and Morgan Stanley on the hottest trade of the year.</a></h2><h2>Hackers are targeting private equity firms </h2><h1><div type="image" title="coronavirus hackers" height="1032" width="1377" msid="76787385" hostid="261"></div></h1>Cyberattacks have been on the rise in 2020 due to the pandemic, with financial services targeted the most.Private equity, in particular, has been viewed as a viable new opportunity for cybercriminals as they have deep pockets and wire large sums of money, reports Dan DeFrancesco. While bigger PE firms have the resources to dedicate to cybersecurity, the process at small to mid-size shops remains a work in progress.Read the full story here:<h2><a href="https://www.businessinsider.com/cybercrime-wall-street-private-equity-cybersecurity-2020-7">Cyberattacks against financial firms are up 238%. Experts explain why deep-pocketed private equity firms are most at risk.</a></h2><h2>The future of fintech is infrastructure </h2><div type="image" title="Tripp_Shriner_Website" height="926" width="1235" msid="76787387" hostid="261"></div>As Shannen Balogh reports, fintechs are looking for ways to reimagine and disrupt core <keyword id="6354778" type="ORGANIZATION" weightage="60" keywordseo="Banking">banking</keyword> services that have been long dominated by infrastructure giants like FIS and Fiserv."They are all, as it currently stands, very good businesses with large customer bases who trust them, but the fact of the matter is they've fallen behind on technology," Tripp Shriner, partner at Point72 Ventures told Shannen.Shriner isn't alone in his prediction. Goldman's investment banking head of fintech also says that the next trend to watch in fintech is players that focus on banks' core, often dated, infrastructure. Read more:<h1><a href="https://www.businessinsider.com/point72-ventures-future-fintech-disruption-infrastructure-fis-fiserv-broadridge-2020-6">Investors at Point72 and Goldman Sachs believe industry giants like FIS and Fiserv will be the next to be disrupted by fintech. Here's where they are most susceptible.</a></h1><h2>Business Insider events</h2><div type="image" title="bi digital live event 2 4x3" height="1800" width="2400" msid="76787391" hostid="261"></div>One-click checkout startup Fast <a href="https://www.businessinsider.com/fast-pitch-deck-series-a-stripe-raise-20-million-2020-5#-2">raised its $20 million Series A</a> from investors including Index Ventures and buzzy fintech Stripe in May as it looks to take on Apple Pay to solve pain-points around password management and online checkout.Join Business Insider reporter Shannen Balogh on Tuesday, July 14 at 1:30 p.m ET when she will speak with Domm Holland, Fast's co-founder and CEO, and Jan Hammer, general partner at Index Venture. They'll discuss how Holland came up with the idea for Fast, how to build a pitch deck, and what it takes to win over investors.<h2><a href="https://us02web.zoom.us/webinar/register/WN_XThO-NQ6ReeHKVtKJrP3ig">If you're a Business Insider subscriber, you can sign up here.</a></h2>You can also join Business Insider on July 8 at 12 p.m. ET for "Planning for the Future in Uncertain Times," a free digital event and part of the Master Your Money series. Presented by Fidelity, it will explore components of a strong financial plan and how to adjust it given recent events. <h2><a href="https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg30.jsp&amp;partnerref=editorial_newsletter_inclusion&amp;eventid=2421485&amp;sessionid=1&amp;key=B77CA071AA13C5EB5DC445AFD40F1885&amp;regTag=&amp;sourcepage=register&amp;sourcepage=register" target="_blank" rel="noopener noreferrer">Click here to register for the Master your Money event.</a></h2><h2>Real estate</h2><ul><li><a href="https://www.businessinsider.com/real-estate-recruiting-turns-to-strategic-roles-and-industrial-2020-7">Vacancy rates are soaring above 15% in Washington DC's normally recession-proof office market. Here's why some industry players are still optimistic.</a></li><li><a href="https://www.businessinsider.com/washington-dc-office-vacancy-rates-rent-oulook-during-recession-2020-6"></a><a href="https://www.businessinsider.com/material-bank-bain-logistics-architecture-design-materials-amazon-2020-7">Meet Material Bank, a Bain-backed logistics startup disrupting the architecture industry. Here's a look at its vision for becoming the Amazon of design.</a></li></ul><h2><keyword id="6354910" type="UNKNOWN" weightage="60" keywordseo="careers">Careers</keyword></h2><ul><li><a href="https://www.businessinsider.com/bank-of-america-npower-technology-hiring-underserved-diversity-2020-6">How a Bank of America exec is partnering with a non-profit training program to tap into a diverse and underserved talent pool for Wall Street tech jobs</a><a href="https://www.businessinsider.com/how-goldman-sachs-workers-going-back-to-work-london"></a></li></ul><h2>Wealth management &amp; fintech</h2><ul><li><a href="https://www.businessinsider.com/morgan-stanley-financial-advisers-going-back-to-branches-details-2020-6">Morgan Stanley financial advisers are starting to head back to offices around the country. Here's what they can expect when they return.</a></li></ul><ul><li><a href="https://www.businessinsider.com/unest-pitch-deck-series-a-fintech-2020-6">An app helping families save for college used this pitch deck to raise $9 million from investors like Anthos Capital and NBA all-star Baron Davis</a></li></ul><h2>Going public</h2><ul><li><a href="https://www.businessinsider.com/dun-and-bradstreets-upsize-17-billion-ipo-nyse-2020-7">A 179-year-old data shop just raised $1.7 billion in an IPO. Dun &amp; Bradstreet's president walked us through its quick return to public markets and why the company's in high demand.</a></li></ul>

Wall Street Insider: The Mooch's leaked memo to Merrill — Boutique bank exits — Hackers target PE

Good morning and welcome to Insider <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword>. I'm Dan DeFrancesco, and here's what's on the agenda today:<ul><li>The <a href="https://www.businessinsider.com/cciv-churchill-captial-spac-lucid-merger-millennium-citadel-blackstone-2021-5">SPAC honeymoon is over</a> as hedge funds are starting to dump shares in Michael Klein's blank-check company set to acquire Lucid Motors.</li><li>Deutsche Bank gave US investment-banking interns the option of a remote or in-person program. <a href="https://www.businessinsider.com/deutsche-bank-summer-interns-overwhelmingly-work-in-person-investment-bank-2021-5">Nearly all of them opted for the office</a>. </li><li>Carlyle is making a big push to tie internal diversity initiatives to bonuses, <a href="https://www.businessinsider.com/carlyle-group-executive-diversity-data-inclusion-black-latinx-asian-2021-5">but less than 3% of the senior US staff at the PE giant are Black</a>.</li></ul><a style="font-weight: bold;" href="http://newsletter.businessinsider.com/join/4np/insider-finance">If you're not yet a subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.</a>Like the <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword>? Hate the newsletter? Feel free to drop me a line at <a href="mailto:ddefrancesco@businessinsider.com">ddefrancesco@businessinsider.com</a> or on Twitter <a href="https://twitter.com/dandefrancesco">@DanDeFrancesco</a>. <h3><a href="https://www.businessinsider.com/carlyle-group-executive-diversity-data-inclusion-black-latinx-asian-2021-5">At private-equity firm Carlyle, which recently tied bonuses to its diversity push, Black employees make up less than 3% of senior US staff</a></h3><h3><a href="https://www.businessinsider.com/carlyle-group-executive-diversity-data-inclusion-black-latinx-asian-2021-5"><div type="image" title="carlyle group" height="2325" width="3100" msid="82906961" hostid="261"></div></a></h3>The data on diversity at Carlyle comes as the Washington, DC-based PE firm recently unveiled efforts to boost diversity at the firm. <a href="https://www.businessinsider.com/carlyle-group-executive-diversity-data-inclusion-black-latinx-asian-2021-5">Get the full rundown here</a>.<h3><a href="https://www.businessinsider.com/cciv-churchill-captial-spac-lucid-merger-millennium-citadel-blackstone-2021-5">Hedge funds like Millennium, Citadel, and Blackstone have dumped shares in the Michael Klein-backed SPAC set to acquire Lucid Motors</a></h3><a href="https://www.businessinsider.com/cciv-churchill-captial-spac-lucid-merger-millennium-citadel-blackstone-2021-5"><div type="image" title="citadel" height="1500" width="2000" msid="82906965" hostid="261"></div></a>Churchill Capital Corp. IV is slated to take Lucid Motors public. While many of its backers seem to have soured on the SPAC, some firms like Sculptor Capital and Coatue went against the grain, increasing their stakes in the company.<a href="https://www.businessinsider.com/cciv-churchill-captial-spac-lucid-merger-millennium-citadel-blackstone-2021-5">These are some of the big-name managers that were invested in the SPAC at the end of the first quarter this year.</a><h3><a href="https://www.businessinsider.com/deutsche-bank-summer-interns-overwhelmingly-work-in-person-investment-bank-2021-5">Deutsche Bank gave incoming summer interns a choice between an in-person or remote program. 92% chose to head into the office.</a></h3><a href="https://www.businessinsider.com/deutsche-bank-summer-interns-overwhelmingly-work-in-person-investment-bank-2021-5"><div type="image" title="Drew Goldman Deutsche Bank" height="1198" width="1598" msid="82906967" hostid="261"></div></a>Despite the vast majority of interns choosing an in-person experience, the bank respects those who chose the virtual program, a spokesperson said. <a href="https://www.businessinsider.com/deutsche-bank-summer-interns-overwhelmingly-work-in-person-investment-bank-2021-5">Here's what else we know so far.</a><h2><a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5">Goldman Sachs, Bank of America, and Citigroup have sent out offer letters for investment-banking interns for summer 2022. Here are the details on 6 banks' pay, start dates, and signing bonuses.</a></h2><a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5"><div type="image" title="Brian Moynihan, the chief executive of Bank of America." height="2497" width="3329" msid="82906975" hostid="261"></div></a>We've got the scoop on Bank of America's offer letter to investment-banking interns. <a href="https://www.businessinsider.com/goldman-sachs-citigroup-morgan-stanley-summer-2022-analyst-internship-offers-2021-5">Here's the rundown</a>. <h3><a href="https://www.businessinsider.com/wall-street-hires-exits-apollo-jpmorgan-morgan-stanley-svb-leerink-2021-5">Must-know promotions, exits, and hires at firms like Apollo, JPMorgan, and Morgan Stanley</a></h3><h2><a href="https://www.businessinsider.com/wall-street-hires-exits-apollo-jpmorgan-morgan-stanley-svb-leerink-2021-5"><div type="image" title="Jenn Piepszak Chase" height="3477" width="4637" msid="82906983" hostid="261"></div></a></h2>JPMorgan tapped Marianne Lake and Jennifer Piepszak to co-lead the firm's consumer and community banking business. Andy Saperstein and Ted Pick were named co-presidents of Morgan Stanley. <a href="https://www.businessinsider.com/wall-street-hires-exits-apollo-jpmorgan-morgan-stanley-svb-leerink-2021-5">Read about all the biggest people moves across the Street</a>.<h2>Odd lots:</h2><a href="https://www.bloomberg.com/news/articles/2021-05-19/goldman-sachs-nears-office-lease-at-related-s-west-palm-tower?sref=5xrDvJna">Goldman Sachs Nears Office Lease at Related's West Palm Tower (Bloomberg)</a><a href="https://www.cnbc.com/2021/05/21/why-asian-americans-on-wall-street-are-breaking-their-silence.html">Why Asian Americans on Wall Street from Goldman Sachs to Wells Fargo are breaking their silence (CNBC)</a><a href="https://www.theinformation.com/articles/axel-springer-is-in-talks-to-buy-axios?shared=68793336b75ecaa6">Axel Springer Is in Talks to Buy Axios (The Information)</a><a href="https://www.bloomberg.com/news/articles/2021-05-21/a-surge-in-ethical-finance-is-making-esg-a-hot-item-on-resumes?cmpid=BBD052121_OUS&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=210521&amp;utm_campaign=openamericas&amp;sref=5xrDvJnaas&amp;sref=5xrDvJna">ESG Skills Are a Hot Item on Today's Resumes (Bloomberg)</a><a href="https://www.nytimes.com/2021/05/21/business/media/att-discovery-warnermedia-deal.html">Inside the Discovery-AT&amp;T Deal: Cute Emails, a Big Loan and Now, a Media Giant (NYT)</a>

Hedge funds exit SPACs as the honeymoon with blank-check companies ends

New Delhi, Feb 25 () Private equity and venture capital (PE/VC) inflows started 2020 on a strong note as the month of January recorded investments worth USD 2.5 billion up 34 per cent over the year-ago period, a report said on Tuesday. According to the IVCA-EY monthly PE/VC roundup, PE/VC investments in January 2020 (USD 2.5 billion) were 34 per cent higher than the value recorded in January 2019 (USD 1.9 billion) and 41 per cent lower compared to December 2019 (USD 4.3 billion). In terms of number of PE/VC investments January 2020 was at par with January 2019. "After a record setting 2019, PE/VC investments in 2020 are off to a good start with investments worth USD 2.5 billion recorded in January 2020. Infrastructure sector continues to play a big role in this growth, accounting for 36 per cent of all PE/VC investments during the month," said Vivek Soni, Partner and National Leader - Private Equity Services, EY. Credit investments are also a fast-emerging asset class for PE/VC as investors cherry picked stressed opportunities thrown up by companies that need support to prevent going into National Company Law Tribunal (NCLT). With a more enabling regulatory and policy framework in place, credit investments witnessed a good start in January 2020, the report said. There were five large deals (value greater than USD 100 million) worth USD 1.4 billion in January 2020 compared to four deals worth USD 1.1 billion last year. The largest deal announced in January saw Goldman Sachs and Varde Partners take over the debt of RattanIndia Power Limited for USD 566 million followed by Canada Pension Plan Investment Board (CPPIB), Allianz Capital Partners and Ontario Municipal Employees Retirement System's (OMERS') USD 246 million investment in IndInfravit Trust. From a sector point of view, infrastructure sector (USD 898 million across five deals) was the top sector in January 2020, followed by financial services (USD 531 million across 14 deals) and e-commerce (USD 264 million across nine deals). The report further noted that January 2020 recorded 12 exits worth USD 461 million, 39 per cent higher than the value of exits recorded in January 2019 (USD 331 million) but 47 per cent lower than December 2019 (USD 864 million). The largest exit in January 2020 saw Nexus India Capital Advisors, Jungle Ventures and Naspers sell their combined stake in Paysense Services India Private Limited to PayU Corporate for USD 293 million. DRR SHWSHW

Jan records PE investments worth USD 2.5 bn: Report

Mumbai, Jun 4 () Billionaire Mukesh Ambani's stake sales in Jio Platforms helped lift an otherwise tepid venture investments activity in May, taking the overall inflows to USD 5.4 billion as against USD 935 million in April. The investments have nearly doubled as compared to the year-ago period's USD 2.8 billion, and the biggest deal recorded during the month was buyout major KKR's USD 1.5 billion investment in Jio, consultancy firm EY said in a report. At USD 4.6 billion, the investments in Jio Platforms accounted for 85 per cent of the overall investments by private equity (PE) and venture capital (VC)funds, EY added. Its partner Vivek Soni said when adjusted for Jio's marquee deals, the PE/VC investment activity is on a "downward spiral", but the deals in the largest telco helped highlight investor confidence in the India story. The overall number of investment transactions by PEs and VCs stood at 58, which resulted in the investments of USD 5.4 billion in May. After telecom, life sciences sector witnessed deals of USD 354 million, Soni said, adding that this is on expected lines, wherein defensive sectors will start getting attractive for investors. On exits front, the financial services sector recorded the highest value of exits as investors looked to book some profits in listed securities after the recent recovery in the equity indices, it said. PE firms acquire businesses with the intent to exit at a higher equity value than was initially invested. Some of the most common PE exit strategies are: trade sale, initial public offering and secondary buyout. The financial sector accounted for 60 per cent of the 11 exit deals worth USD 286 million announced during the month, it said, adding that the same is an increase of 2.4 times as compared with April and a 24 per cent decline from the year-ago period. "Given that the curve of COVID-19 cases is yet to flatten decisively in some zones that account for a large part of the country's economic activity, the virus will continue to remain a major headwind that both the government and private enterprises will need to tackle in the near future till such time a definitive cure is found," Soni said, presenting a sombre outlook. AA DRR DRR

PE/VC investments nearly doubled to USD 5.4 bn in May led by Jio Platforms deals

(Eds: Changing headline) Mumbai, Jun 4 () Billionaire Mukesh Ambani's stake sales in Jio Platforms helped lift an otherwise tepid venture investments activity in May, taking the overall inflows to USD 5.4 billion as against USD 935 million in April. The investments have nearly doubled as compared to the year-ago period's USD 2.8 billion, and the biggest deal recorded during the month was buyout major KKR's USD 1.5 billion investment in Jio, consultancy firm EY said in a report. At USD 4.6 billion, the investments in Jio Platforms accounted for 85 per cent of the overall investments by private equity (PE) and venture capital (VC)funds, EY added. Its partner Vivek Soni said when adjusted for Jio's marquee deals, the PE/VC investment activity is on a "downward spiral", but the deals in the largest telco helped highlight investor confidence in the India story. The overall number of investment transactions by PEs and VCs stood at 58, which resulted in the investments of USD 5.4 billion in May. After telecom, life sciences sector witnessed deals of USD 354 million, Soni said, adding that this is on expected lines, wherein defensive sectors will start getting attractive for investors. On exits front, the financial services sector recorded the highest value of exits as investors looked to book some profits in listed securities after the recent recovery in the equity indices, it said. PE firms acquire businesses with the intent to exit at a higher equity value than was initially invested. Some of the most common PE exit strategies are: trade sale, initial public offering and secondary buyout. The financial sector accounted for 60 per cent of the 11 exit deals worth USD 286 million announced during the month, it said, adding that the same is an increase of 2.4 times as compared with April and a 24 per cent decline from the year-ago period. "Given that the curve of COVID-19 cases is yet to flatten decisively in some zones that account for a large part of the country's economic activity, the virus will continue to remain a major headwind that both the government and private enterprises will need to tackle in the near future till such time a definitive cure is found," Soni said, presenting a sombre outlook. AA DRR DRR DRR

PE/VC investments touch USD 5.4 bn in May led by Jio Platforms deals: Report

New Delhi, Mar 17 () Private equity and venture capital investments recorded a 24-month low of USD 1.7 billion in February this year, primarily on account of significant decline in large deals, says an EY report. According to the IVCA-EY monthly PE/VC roundup, uncertainty over the impact of COVID-19 is expected to act as a significant headwind to Indian PE/VC investments. The rapid spread of the pandemic over the past 30-45 days has spiked business risk premiums, which has already led to significant downward correction in capital markets around the world, which in turn has impacted fund inflows. Further, travel restrictions and inability of people to meet face-to-face is expected to delay work-in-progress deals and limit the number of new deals from being struck, the report said. "After a good start to PE/VC investments in 2020, both investment and exit activity have declined considerably in February 2020. The decline in value of PE/VC investments is primarily on account of the number of large deals (over USD 100 million) going down substantially," said Vivek Soni, Partner and National Leader - Private Equity Services, EY India. There were five large deals worth USD 700 million in February 2020 compared to nine deals worth USD 2.0 billion last year and five deals worth USD 1.4 billion in January 2020. "This is the lowest aggregate value of large deals in over 19 months. The largest deal announced in February saw General Atlantic invest USD 200 million in BYJU'S, an edtech company, followed by Warburg Pincus' investment of USD 150 million in Apollo Tyres Limited," the report said. Soni further said that besides the coronavirus scare, domestic issues concerning taxation policies impacting InvIT's and REITS and lingering issues over the financial health of some of our domestic banks and NBFCs, will act as sentiment dampeners, potentially slowing down large ticket PE/VC investments in the short term. In the medium term, however valuations are expected to moderate, and may open up good opportunities for PE/VC investors. From a sector point of view, education sector (USD 311 million across five deals) has emerged as the top sector for the first time due to the large investment in BYJU'S, followed by technology (USD 271 million across 18 deals) and real estate (USD 232 million across three deals). Financial services, that has traditionally been one of the top sectors, was relegated to the fifth place with USD 162 million invested across nine deals, the report said. DRR MRMR

PE/VC investments in Feb slips to 24-month low of USD 1.7 bn: Report

Mumbai, Jul 13 () A flurry of deals involving Mukesh Ambani's Jio Platforms has helped arrest the fall in private equity investments into India at only 10 per cent in the first half of 2020 at USD 18.3 billion, a report said on Monday. The USD 9.6 billion invested into Jio accounted for more than half of the overall investments by private equity and venture capital (PE/VC) funds, and if not for those, the overall activity would be much lower, EY, a consultancy, said. Its partner Vivek Soni said it has been a very challenging time for both corporate India and investors as both sides have had to deal with their own set of uncertainties because of the COVID-19 pandemic and added that some the challenges are expected to persist. He, however, said that the headline numbers have been far better than anticipated largely because of the deals in Jio Platforms. In terms of volume, number of deals in January-June period declined 11 per cent from the year-ago period's 499 deals. One of the biggest reasons for the decline in PE/VC investments in the first half was the under-performance of the infrastructure and real estate sectors which attracted the highest PE/VC investment in 2019 at USD 20 billion, it said, adding in the H1 this year, these sectors received only USD 1.9 billion in investments. In terms of deal type, buyouts were the most affected with only 14 transactions worth USD 794 million compared to 27 worth USD 6.2 billion in the year-ago period. Growth deals were the highest at USD 12.7 billion across 93 transactions, up from USD 6.7 billion through 111 deals in the year-ago period, followed by start-up investments at USD 2.7 billion by way of 266 deals versus USD 2.7 billion via 293 transactions. During January-June, there were credit investments worth USD 1.2 billion across 40 deals, as against USD 1.7 billion across 39 deals and PIPE (private investment in public equity) of USD 882 million across 30 deals versus USD 3 billion across 29 deals in the year-ago period, the report said. Exits declined by 26 per cent in terms of value to USD 2.9 billion in the first half of this year and if compared to H2 of 2019, the decline was even steeper at 61 per cent. Over USD 1.6 billion of fundraising activity was observed in H1 which was 71 per cent lower as compared to the year-ago period. AA DRR DRR

Inflows into Jio Platforms limit H1 PE/VC dip to 10 pc at USD 18.3 bn

Mumbai, Apr 21 () Private equity and venture capital investments in India may decline up to 60 per cent in 2020 due to COVID-19 pandemic, according to a report by consulting firm EY.Fund raising activity, which typically influences future investments, has also gone "cold", if one were to look at March's data of private equity (PE) and venture capital (VC) funds having raised only USD 85 million, EY said in a statement.In the past few years, fund raising activity has been touching record highs, and grew 28 per cent to USD 48 billion in 2019. However, there have been concerns on the same after the emergence of the pandemic, which is set to lead to a unprecedented impact on economic activity due to lockdowns and social distancing.EY projected Indian PE and VC investments at USD 19-26 billion in 2020, which is a 45-60 per cent decline over the 2019 figures. It said March 2020 saw investments of only USD 818 million, the first time in three years that the monthly figure has slipped under the USD 1 billion mark.In January-March, the PE/VC investments fell by 50 per cent at USD 5.1 billion.Rather than looking at newer private companies, investors will be looking at more private investments in public equity (PIPE) deals and also growth capital, it said."The COVID-19 pandemic has caused severe dislocations across markets, and with many countries under lockdown, economic activity has contracted significantly," Vivek Soni, EY's National Leader for Private Equity Services, said.He said there is still a lot of uncertainty around the future trajectory of COVID-19 , a holistic understanding of its ramifications on the global and Indian economy and the near-term economic trajectory of the country.The firm said travel restrictions and lack of in-person meetings have significantly slowed down the deals that are in process, and added that these deals will be revalued if not cancelled once the lockdown restrictions are lifted and more clarity emerges on future revenues, rebooting of supply chains. Investors are most likely to go for a defensive play which may include investments in companies in the technology, consumer goods (packaged essentials, personal and healthcare, food processing and retail), pharmaceuticals as well as sub-sectors like medical supply and services, biotech, agricultural products, edtech, chemicals and e-commerce sectors, it said.Activity in the financial services and fintech, infrastructure and real estate, healthcare, non-essential consumer Goods and services (durables, apparel, mobility, restaurants) that till recently attracted significant amounts of PE/VC investments is expected to slow down and may take some time to find traction, it said.Exits, which stood at USD 11.1 billion in 2019, are expected to shrink by 50-67 per cent in 2020, it said."PE/VC funds are more likely to hold portfolio positions for longer, work through the crisis and sell in better times as opposed to selling at deeply discounted valuations," it said. AA ANUANU

You Searched For "pe exits" and got 12 results

PE, VC investments in domestic companies drop to $27.9 bn in 2023

IANS

Deal Tracker: PE investments fall by 30% to $1.7 bn in September quarter, BFSI rules the roost

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Two promoter exits - shakeout in housing finance sector?

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PE investments in real estate decline 17% in 2022 due to inflation, rising interest rates – Knight Frank India

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Wall Street Insider: The Mooch's leaked memo to Merrill — Boutique bank exits — Hackers target PE

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Hedge funds exit SPACs as the honeymoon with blank-check companies ends

Dan DeFrancesco,Jordan Parker…

Jan records PE investments worth USD 2.5 bn: Report

PTI

PE/VC investments nearly doubled to USD 5.4 bn in May led by Jio Platforms deals

PTI

PE/VC investments touch USD 5.4 bn in May led by Jio Platforms deals: Report

PTI

PE/VC investments in Feb slips to 24-month low of USD 1.7 bn: Report

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Inflows into Jio Platforms limit H1 PE/VC dip to 10 pc at USD 18.3 bn

PTI

PE, VC investments in India may dip up to 60 pc in 2020 due to COVID-19: EY

PTI

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