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Jacob Ballas Capital India raises USD440m in commitments for third fund

India-dedicated private equity fund Nylim Jacob Ballas India Fund III has raised total commitments of USD440m, anchored by New York Life Investment Management and with fresh commitments

India-dedicated private equity fund Nylim Jacob Ballas India Fund III has raised total commitments of USD440m, anchored by New York Life Investment Management and with fresh commitments from existing Jacob Ballas investors.

Delhi-based Jacob Ballas Capital India now manages USD600m of capital in three funds, with commitment for the new fund coming from limited partners in the US, the Middle East, Europe and Asia.

"Fund III’s successful closure underscores the long term investment potential in India despite unprecedented turmoil in global financial markets this year," says Jacob Ballas Capital chairman Rajan Jetley.

‘About 85 per cent of fund III’s investors are financial institutions, sovereign funds, pension funds and funds of funds, while 15 per cent comprise reputable family offices and private investors.

Managing director Srinivas Chidambaram adds: "Apart from providing growth capital, an investment by the fund typically assists chief executives to differentiate their competitive proposition, open up new business relationships and systematically target local, regional or global market leadership in their industry segments through either organic or inorganic growth."

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