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.
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.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
