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Archive for the ‘Quantum Endowment Fund’ Category

Soros’ Quantum fund hikes stake to 5.1% in Reliance Capital

Posted by dealcurry on January 29, 2007

Legendary investor George Soros, through his Quantum investment fund, has hiked his stake in Reliance Capital from 4.8% to 5.1%. The fund has bought nearly 500,000 shares of Reliance Capital to take its total holding in the company to 11.3 mn shares worth about Rs. 700 crores. As of December-end, Quantum was holding about 10.8 mn shares in the financial services firm. Reliance Capital and George Soros could co-operate to launch an offshore real estate fund which would invest in the Indian realty sector. In addition to the 5.1% stake in Reliance Capital, George Soros also holds about 11% in Reliance ARC.

Read the article in The Times of India.


Posted in Financial Services, Private Equity, Quantum Endowment Fund, Reliance ARC, Reliance Capital | Leave a Comment »

UK-based Metdist Group and Trinity Capital buy stake in Fortis Healthcare

Posted by dealcurry on January 18, 2007

Fortis Healthcare has issued equity shares in a pre-IPO placement to 2 UK-based firms. The company has signed pr-IPO placement agreements for allotment of 1 mn equity shares each to Raj Kumar Bagri and Apurv Bagri of Metdist Group and 2 mn shares to Trinity Capital. The Metdist Group is a global metal trading firm based in London and has a presence in Malaysia, Thailand, China, the UAE and India. Trinity was formed in 2006 to invest in real estate and real estate-related entities in India.

Fortis has already signed two pre-IPO placements, aggregating up to $33.33 mn (about Rs. 150 crores), with Quantum, Blue Ridge Partnership and Blue Ridge Offshore Master.

The equity issued as per pre-IPO placements would be subject to lock-in after the completion of the IPO as per SEBI regulations.

Read the articles in The Economic Times and Business Standard.

Posted in Blue Ridge Offshore Master, Blue Ridge Partnership, Capital Markets, Fortis Healthcare, Metdist Group, Pharma and Healthcare, Quantum Endowment Fund, Trinity Capital | Leave a Comment »

Reliance ARC to receive funding from George Soros’ fund, Blue Ridge Capital

Posted by dealcurry on January 12, 2007

Cyprus-based Dacecroft, a wholly-owned entity of Quantum Endowment Fund backed by billionaire investor George Soros and New York-based investment firm Blue Ridge Capital are picking 21% equity stake in Anil Dhirubhai Ambani Group’s Reliance Asset Reconstruction Company (Reliance ARC).

While Dacecroft, which would pick 11% stake, would come on board as the sole foreign sponsor of the company, Blue Ridge would be putting in its money as another investor. Dacecroft would invest Rs. 11 crores in the company. Blue Ridge would invest Rs. 10 crores through two arms: Blue Ridge Limited Partnership would pick 6.2% stake and Blue Ridge Offshore Master Partnership would hold 3.8% in Reliance ARC.

The second largest investor in Reliance ARC, Corporation Bank, which holds 20.76%, will hold 10% after the induction of foreign investors. The holding of General Insurance Company (GIC) would also come down from 17.65% to 10%.

Read the article in The Economic Times.

Posted in Blue Ridge Capital, Dacecroft, Financial Services, Private Equity, Quantum Endowment Fund, Reliance ARC | Leave a Comment »