Blackstone Group LP, the US private equity manager and Temasek Holdings, the Singaporean sovereign wealth fund manager, are conducting separate discussions with Shriram Ventures of India regarding an investment reportedly worth US$200 million.
Shriram Ventures is the non-financial services unit of the Shriram Group. The said transaction was confirmed with Reuters by three anonymous sources with direct knowledge of the matter.
The company, based out of Chennai, has non financial interests in businesses such as construction and infrastructure, power generation and real estate. This investment received is said to be earmarked to fund growth according to the anonymous sources.
All three firms, namely the Blackstone Group, the Shriram Group and Temasek Holdings declined to provide any comment on the matter.
The Indian firm regularly engages private equity fund managers to fund businesses. It has in its portfolio sixteen different funds that private equity fims such as Norwest Venture Partners and ChrysCapital have invested in since 2004. This data was obtained from Venture Intelligence, an industry tracking firm.
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