ChrysCapital raises $700 million to maintain stake in National Stock Exchange
Indian private equity firm ChrysCapital has raised $700 million in new funds, allowing the firm to maintain its stake in India's National Stock Exchange (NSE) by buying itself out, the firm said Tuesday.
, a leading India-focused , on Tuesday announced the closing of a $700-million continuation fund. The continuation fund is anchored by HarbourVest Partners, LGT Partners, and Pantheon Ventures (“Continuation Fund”).The newly closed continuation fund has acquired a stake in the National Stock Exchange from ChrysCapital VI, LLC. ChrysCapital Fund VI first invested in NSE in 2016 and continue as a significant, long-term shareholder in the company through the continuation fund.
The transaction provided Fund VI investors an opportunity to monetize the performance of a highly successful investment while allowing continuation fund investors the opportunity to invest in India’s leading stock exchange and the world’s largest exchange. As part of the transaction, Fund VI investors were also provided with the option to roll their value into the continuation fund.
The transaction was oversubscribed and is the largest of its kind in India and ranks among the largest across the Asia Pacific.
HarbourVest Partners and LGT Capital Partners led the structuring of the continuation fund. UBS Private Funds Group served as the exclusive financial advisor to ChrysCapital. Cooley LLP advised ChrysCapital, and Kirkland & Ellis LLP acted for HarbourVest Partners and LGT Capital Partners.
Source: Stocks-Markets-Economic Times
