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Indian companies were involved in a total of 356 M&A deals in 2009, down 34 per cent from 543 deals the previous year, according to a study by Venture Intelligence.
However, M&A activity in the second half of 2009, which witnessed 204 deals, was higher than the first half of 2009 which witnessed a total of 152 M&A deals.
In the largest M&A deal by announced value, UltraTech Cement merged Samruddhi Cement with itself to form India’s largest cement company.
This was followed by ONGC Videsh acquiring UK-listed Imperial Energy, which has oil assets in Russia, for USD1.9bn, and Sanofi-Aventis’
Private equity firm Elevation Partners has appointed Avadis “Avie” Tevanian as a managing director.
Tevanian (pictured) brings to Elevation more than two decades of operational and software expertise in consumer and technology businesses.
Most recently, Tevanian was chief software technology officer at Apple and a member of the company’s senior management team, where he led Apple’s software strategy and development.
Fred Anderson, managing director and co-founder of Elevation, says: "Avie and I worked closely together at Apple for many years and I have always admired his engineering talent and leadership, his strategic vision for how software can transform businesses and
Tim Haywood, Investment Director at Augustus Asset Managers Ltd (a subsidiary of GAM), investment advisor to three of the four Julius Baer Absolute Return Bond Funds, examines the outlook for investments in government securities.
Investors in government bonds face a difficult year due to increased risks and concerns over the ending of quantitative easing (QE) programs in the UK and US. There is a raft of potential bad news overhanging the government fixed-income markets – be it heightened risk of default, rating downgrades, inflation scares when there is so little yield protection, buyers strikes as well as the end of,
NetWitness, a provider of threat intelligence and real-time network forensics solutions, has received an investment from growth equity investor Summit Partners.
The investment will be used to fund additional technology acquisitions and other initiatives related to the company’s network security technology.
The announcement comes one week after NetWitness released its 2009 financial results, which included a doubling of revenue over the prior year, its sixth straight quarter of profitability, and growth across all corporate performance measures.
Nick Lantuh, president of NetWitness, says: “Raising capital from Summit is a strategic move for NetWitness that will help us to acquire and develop
New York Life Capital Partners, the private equity arm of New York Life Investments, has appointed Robert M. Barrack as managing director and chief operating officer.
In this newly created position, Barrack will manage the firm’s business administration, accounting and investor relation efforts.
He will report directly to Thomas Haubenstricker, chief executive officer of New York Life Capital Partners.
Barrack joins from The Blackstone Group, where during his 12 year tenure he served as managing director and chief financial officer of the firm’s private equity group and most recently as managing director in the firm’s investor relations and business development
Greylock Partners, a Silicon Valley venture capital firm, has promoted Isaac Fehrenbach and David Thacker to the position of associate partner.
“David and Isaac have become trusted advisers to a number of Greylock-supported companies. They have shown tremendous potential and I am enthusiastic about what they can achieve in the future,” says Greylock partner David Sze.
“In their new roles David and Isaac will invest in promising startups and growth stage tech ventures and draw from their operating experience to help entrepreneurs build great companies.”
Fehrenbach (pictured) leads Greylock’s cleantech efforts. He invests in early stage companies that operate at
Private equity firm Equity Resource Investments has raised over USD37m for its latest real estate private equity fund.
Equity Resource Fund 2009 will invest in all classes of real estate, primarily through acquisition of fractional equity interests, direct real estate investments, joint venture participations, merger transactions, and other opportunistic investments on a high value, risk-adjusted basis, primarily in the US.
“We strongly believe that times of financial distress represent exceptional opportunities to make investments,” says Eggert Dagbjartsson, managing director of ERI. “Having dry powder when capital is scarce allows ERI investors access to attractive transactions in superior properties.”
Fund 2009
TA Associates, a growth private equity firm, has made a minority investment of USD45m in Micromax Informatics, a mobile handset provider in India.
Founded in 2000 as a telecom equipment distributor, Micromax entered the mobile handset market in April 2008.
Micromax is now the third largest handset provider in India, as measured by volume.
The handsets are sold through more than 45,000 retail points in 120 cities across the country. Micromax is headquartered in New Delhi.
“As a fast-growing, profitable company in a growth industry, Micromax ideally fits TA’s investment profile,” says Naveen Wadhera, director, TA Associates Advisory, who will
Global Investment House has obtained approval from its shareholders to transfer its principal investment assets and real estate investment properties to the Global Macro Fund and Real Estate Holdco respectively.
Both the Global Macro Fund and the Real Estate Holdco are wholly owned subsidiaries of Global.
The shareholders’ approval was also sought to pledge the above-mentioned principal investment assets and real estate investment properties in favour of the company’s financiers in accordance with the terms of the company’s debt restructuring agreements. The shareholders granted their approval to all items of the ordinary general meeting agenda.
As part of the restructuring
The Riverside Company, a private equity firm investing in companies with enterprise values of under EUR150m, has promoted Karsten Langer and Juan Barnechea within its European organisation.
Langer, who joined Riverside in 2006, will become the transacting partner for Benelux and France.
Previously, Langer served as origination partner with Riverside for three years, where he was responsible for the creation and leadership of a pan-European origination team overseeing more than 1,200 deals annually.
In addition, Langer has played a critical role in the development of Riverside’s European team and the spread of the Riverside brand across Europe.
Barnechea will now
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