Private Equity Fund Investments
Florintree buys out OIJIF's 20% stake in defense tech co Data Patterns
Florintree Capital, owned by Mathew Cyriac - the former co-head of Blackstone's Indian private equity operations - has acquired an about 20% stake in Chennai-based defence & aerospace electronics systems supplier Data Patterns (India) Pvt Ltd. It has picked up the stake held by existing investor Oman India Joint Investment Fund (OIJIF) in a secondary transaction. Veda Corporate Advisors was the exclusive advisor to the transaction. Data Patterns develops systems for land, sea, air and space platforms. OIJIF, a joint venture between Oman Investment Authority and State Bank of India, had invested INR 55 crore for a 20% stake in the company in 2012.
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