Private Equity

Private Equity Fund Investments

TVS Supply Chain attracts Rs.1,000-Cr from Kotak fund

Economic Times   Business Lin  

Kotak Special Situations Fund, managed by Mumbai-based Kotak Investment Advisors, has invested INR 1,000 crore in Chennai-based third party logistics firm TVS Supply Chain Solutions (TVS SCS). Under the transaction, Kotak has lent TVS SCS promoter firm TS Rajam Rubbers INR 800 crore (via NCDs) to help acquire the previously announced buyback of Canadian investor CDPQ's stake in the company. Additionally, Kotak has also invested INR 200 crore as equity in TVS SCS. CDPQ had picked a minority stake in TVS SCS in 2016 after buying most of the joint stake held then by Goldman Sachs and KKR in TVS Logistics Services Ltd (now TVS SCS) in a transaction valued at about USD 155 million.