Portfolio company underperforms, leading to Madison India's exit announcement
Madison India Capital, a prominent private equity firm, has recently announced that it has signed off from one of its showcase investments in India. The exact nature of this investment and the industry or sector it belongs to remains undisclosed.
This move comes six years after the firm closed its fourth investment vehicle, and the new fund was floated in 2023. The PE firm is looking to demonstrate liquidity to new prospective limited partners (LPs) for its latest outing.
In a related development, the International Finance Corporation (IFC) has also signed off from an investment in India, although the details of the investment and its performance are not disclosed.
Meanwhile, Motilal Oswal Alternatives is planning to exit a decade-old bet in India, while CVC Capital has completed an exit worth $445 million in the country. Creador, another player in the private equity space, is making an exit from its India tech portfolio.
However, the specifics of these exits, including the timeline and terms, remain undisclosed. The performance or success of these investments is also not detailed in the publicly available information.
It is worth noting that the IFC's investment in India is expected to meet minimum target returns, but the details of these returns are not disclosed. Similarly, the specific showcase bet that Madison India Capital has exited is not specified.
The institution that modified Madison India Capital in one of its prominent ventures while attempting to demonstrate liquidity for new potential limited partners in its current engagement is not explicitly stated in publicly available information.
This series of exits is likely to set a positive tone for the private equity industry in India, indicating a healthy market for investments and exits. As always, more details are expected to emerge in due course.
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