Author:
Publication: Rediff on Net
Date: April 29, 2002
URL: http://www.rediff.com/money/2002/apr/29warb.htm
Warburg Pincus, India's largest
equity investor, on Monday termed the country as "the best place outside
the United States to invest in the world."
Warbug Pincus said in a media release
in Mumbai that India's steady move to market- based economy and successful
efforts to deregulate key industrial sectors continues to make the country
attractive to US private equity firms.
"Our ability to have a final closing
of $5.3 billion in a difficult economic environment merely reaffirms the
sustainability of the Warburg Pincus business model," said Dalip Pathak,
a Warburg Pincus Managing Director.
"I am personally delighted, because
the raising of this new fund will continue to provide us with the resources,
if and when we need them, to continue building our franchise in India,
which is one of our key markets."
"India's steady move to a market-based
economy and successful efforts to deregulate key industrial sectors continues
to make the country attractive to US private equity firms," said W Bowman
Cutter, a Warburg Pincus Managing Director who was involved in fund raising
activities for WP VIII. "We hate to reveal our secrets but we believe India's
extraordinary dynamism has created an environment which makes India, arguably,
the best place outside the United States to invest in the world," Cutter
said, noting that Warburg Pincus is the largest private equity investor
in India.
Since 1971, Warburg Pincus has invested
approximately $12.2 billion in 450 companies in 29 countries. The firm
currently has approximately $10 billion under management, with an additional
$7.5 billion available for investment.
In Asia, Warburg Pincus has invested
more than $1.5 billion since 1994.
Warburg Pincus has invested over
$670 million in Indian companies - its biggest exposure in the Asia-Pacific
region. The firm's key investments in India include Apar Infotech, Bharti
Tele-Ventures, Gujarat Ambuja Cement, HDFC, Moser Baer, Nicholas Piramal
and Venture Infotek.
Warburg Pincus is one of the largest
private equity investment firms in the world. Working in partnership with
management teams, Warburg Pincus has taken an active role in building businesses,
including companies such as Mattel Inc, United Healthcare, RenaissanceRe
Holdings Ltd, Dime Bancorp Inc, Mellon Bank Corporation, Knoll, Inc, BEA
Systems and VERITAS Software Corp.
Warburg Pincus' domestic and international
investments are focused in a range of industry sectors including business
technology and services, financial services, communications, healthcare
and life sciences, information technology, media, natural resources and
real estate.
Throughout its 30-year history in
private equity, Warburg Pincus has invested at all stages of a company's
life cycle, from founding start-ups and providing growth capital to leading
restructurings, recapitalisations and buy-outs.
