Indivision closes $400 mn Indian fund

NEW DELHI: Indivision Capital, a private equity fund managed by Future Capital Holdings, Pantaloon’s financial retail arm, is closing its $400m fund for India. This is the second-biggest fund after ChrysCapital raised $500m in January ’06.

The firm is learnt to have raised $300m from a clutch of sources, which include high networth individuals (HNIs), overseas financial institutions and hedge funds. Two months back, Goldman Sachs’ private equity arm had put in $100m as a strategic investment in Indivision.

While Sameer Sain, CEO, Future Capital confirmed the development, he declined to name the investors. While half of $300m has been raised from HNIs, another $100m has come from undisclosed FIs and the remaining from other sources. “We are now in talks with 4-5 companies which we would like to invest in,” Mr Sain told ET.