Aditya Birla Capital Advisors announces Final Closing of Aditya Birla Private Equity - Fund

Monday March 29, 2010,

4 min Read

Commitments of over Rs. 8.8 billion in its maiden fund

Mumbai, March 29, 2010: Aditya Birla Capital Advisors (ABCAP), the private equity arm of the Aditya Birla Financial Services Group (ABFSG), announced the second and final closing of the Aditya Birla Private Equity - Fund I, today.

The maiden Fund has been well received by domestic high net worth clients and institutional investors. The Fund had received commitments of over Rs. 6.75 billion in its First Closing in January earlier this year despite an uncertain market environment. Subsequent to the First Closing, the Fund had also announced an investment commitment of Rs.500 million in Gujarat based Anupam Industries Ltd, one of India’s leading manufacturers of Material Handling Equipment (MHE). The Fund has mobilized Rs 8.8 billion ( Rs 880 crores) in total after the second and final closing.

Commenting on the Fund closure, Mr. Ajay Srinivasan, Chief Executive – Financial Services, Aditya Birla Group said “Private Equity undoubtedly plays an important role in delivering the commitment of the Aditya Birla Financial Services Group to meet all the needs of our target customers. We have ambitious plans for this business and our maiden Fund’s mobilization of over Rs. 8.8 billion is a very good first step in that direction.”

The Aditya Birla Private Equity - Fund I seeks to deliver returns to its investors by investing in and harvesting business growth opportunities created by the strong economic prospects of the Indian economy. The Fund is a growth capital focused fund and has an active investment management approach with operational focus. It targets substantial minority stakes, while investing primarily in unlisted, mid-cap, high-growth, India-centric companies, and is sector-agnostic.

The Fund has an Advisory Board including Mr. RC Bhargava and Dr. Ashok Misra.

About Aditya Birla Capital Advisors

Aditya Birla Capital Advisors Private Limited (ABCAP) seeks to offer asset management and advisory services in Private Equity, to domestic & global investors. The Company has adopted a unique investment style of partnering with its portfolio companies by providing strategic and operational intervention and has its focus on growth investments in mid-market companies, with India as the investment destination

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About Aditya Birla Financial Services Group (ABFSG)

The Aditya Birla Financial Services Group (ABFSG) has a significance presence across various verticals, including life insurance, insurance broking, mutual funds, private equity, security based lending, factoring, insurance advisory services, retail broking and distribution of third party products.

The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Capital Advisors Ltd., Aditya Birla Money Ltd. (erstwhile Apollo Sindhoori Capital Investments Ltd.), Aditya Birla Money Mart Ltd.(erstwhile Birla Sun Life Distribution Co. Ltd.), Aditya Birla Finance Ltd. (erstwhile Birla Global Finance Co. Ltd.) and Birla Insurance Advisory & Broking Services Ltd.

The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of business, with over 4.5 million customers manages assets worth USD 18 billion approximately and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through 1600 branches and over 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With over a billion dollar revenue, ABFSG is a significant non bank player and one of the few players who have a top 5 position in both life insurance and mutual funds.

ABFSG is a part of Aditya Birla Nuvo Litd (ABNL), a USD 3 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 25 countries across the globe.

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