Baring to raise USD 450m for third India fund

Baring Private Equity Partners (BPEP) has said it will raise USD 450m for its third India fund for strategic investments in healthcare, pharmaceutical, IT-enabled services, FMCG and alternative energy generation sectors in India.

According to Akhil Awasthi, partner at BPEP India, approximately 30 per cent of the fund will be targeted toward the healthcare and pharmaceutical sectors in the region.

BPEP's investments in over 20 companies hail from its earlier India funds of an aggregate size of USD 200m. For example, BPEP raised USD 17m for the second India fund in 2004.

Awasthi said in a press conference: "Unlike several other sectors, healthcare and pharmaceutical is an ideal industry to leverage on intellectual capital. There are various niches, technologies and market segments that one could explore. There are at least 25-30 knowledge driven companies in this sector that could go for an expansion mode on their intellectual strengths."

BPEP has so far invested in three healthcare and pharmaceutical firms, including the pharmaceutical marketing analysis and consultant company, Pharmarc.