Private Equity PE Fund Investments
GIC to invest in BPO firm Sutherland Global
Singapore's Sovereign Wealth Fund GIC, through its unit Coral Blue Investment, is to acquire Series C preferred stock (convertible to common stock) of Sutherland Global Holdings Inc, the US-based holding company of global BPO firm. The Competition Commission of India (CCI) has approved the deal that will be executed in two tranches. .
Sutherland operates through four subsidiaries in India: Sutherland Global Services, Sutherland Development Company, Adventity Global Services, and Sutherland Healthcare Solutions.
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From the Venture Intelligence PE-VC Deal Database: In Oct-14, Sutherland Global Services had attracted over INR 2,000 Cr from TPG Capital. The deal had facilitated the exit of existing PE investors: StanChart PE and Oak Investment Partners. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)