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Tata Group to realign PE biz: report

Economic Times  

The Tata Group is realigning its private equity business and is consolidating all its future limited partner commitments under a separate entity, even as it is winding up its Tata Opportunities Fund. Existing investors or limited partners in the fund are expected to get their money back by the end of 2022, either by selling shares in the businesses or through initial public offerings. Tata Capital will continue with two other funds - Tata Capital Growth Fund and Tata Capital Healthcare Fund. While Tata Opportunities Fund has done well, the group wants to consolidate all future sector agnostic funds into one vehicle, for which it has decided to use Tata Capital Growth Fund. Tata Opportunities Fund was launched in March 2011 with a term of 10 years with a provision to extend it by another two years. In September 2020, its term was extended to March 2022. Investors into Tata's funds include Temasek Holdings, Mitsubishi Corp, Mizuho Corporate Bank; Korea Investment Corp, the Bahwan Group, BDT Capital and large University endowments from the US.