Fund News
PE firm Advent to return a record Rs.25,000-Cr this year from India portfolio
Boston, MA (USA)-based private equity firm Advent International will be returning around a record INR 25,000 crore this year to its limited partners (LPs) from gains on its India portfolio .The firm had made an exit for USD 1.6 Billion from Bharat Serums and Vaccines (sold to Mankind Pharma) and for around USD 1 Billion from Manjushree Technopack. Advent made returns of over 3x on its exit from Bharat Serums and around 3-4x on its exit from Manjushree.The firm had also sold 10% of its stake in KreditBee, Yes Bank and Eureka Forbes in February this year.Being present in India from 2007, Advent invests across sectors such as business & financial services, consumer, healthcare, industrial and technology.
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