Saturday, 23 July 2016
Last updated 6 hours ago
Nov 7 2008 | 12:07pm ET
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments, said that its Indian p.e. affiliate has raised US$147 million for the Franklin Templeton Private Equity Strategy, a p.e. fund targeting high net worth investors in India.
The fund will invest in high growth, mid-sized unlisted companies in India.
“Indian high net worth individuals who were earlier focused on equity markets have become more open to explore alternative assets classes such as private equity,” Vivek Kudva, president of Franklin Templeton (India), said. “Despite the expected moderation, the Indian economy will continue to be one of the fastest growing economies in the world and the rising demand for private capital will help this product to capture the growth potential in an effective way.”
Founded in 1994 by former U.S. Treasury Secretary Nicholas Brady, Darby Overseas Investments became a wholly-owned subsidiary in 2003 of Franklin Resources, parent of San Mateo, Calif.-based Franklin Templeton Investments.