India's ChrysCapital raises $600 million from several investors

ChrysCapital, India’s largest and oldest private equity house, has raised $610 million for its seventh fund taking its assets under management to about $3.2 billion. The fund raising was supported by several of ChrysCapital's long-standing limited partners or LPs such as GIC, Asia-Alternatives and the Harvard Management Company, along with new marquee investors in funds which included global insurance companies, university endowments and family offices.

LPs are institutions, family offices and individuals who participate as investors in funds.

According to the company’s MD, regardless the environment of fund raising being tough, ChrysCapital's latest mop up took just over a year.

This was a testament to the firm's strong track record of generating good returns and realisations in a market where both have been elusive, he said.

The company’s latest fund will continue to pursue the firm's strategy of investing in minority growth and select control opportunities across its key focus sectors - business services, financial services, pharmaceuticals/healthcare, consumer and manufacturing. It has already made two investments from this fund - the first in L&T Infotech, part of the industrial conglomerate L&T Group and India's largest mid-tier IT services company, and in Hero FinCorp, the consumer finance arm of Hero MotoCorp.