ChrysCapital on Tuesday closed its $700 million continuation fund, which can permit the personal fairness agency to hold onto its stake within the Nationwide Inventory Alternate (NSE), which it first purchased in 2016.

HarbourVest Companions, LGT Capital Companions, and Pantheon Ventures have invested within the continuation fund which acquired the stake in NSE from earlier funds of ChrysCapital.

A continuation fund helps funding companies maintain onto property purchased by older funds by elevating contemporary capital from buyers. As PE and enterprise funds are often pooled funding automobiles and have to offer exits to buyers based mostly on the tenure, a continuation fund helps to maintain sure property in a brand new fund and permit present buyers to both money out or roll over their current investments.

ChrysCapital had purchased a 5 per cent stake in NSE in 2016.

The stake initially belonged to ChrysCapital VI. The PE agency needs to proceed as a big and long-term shareholder of the change, it mentioned.

In 2016, NSE was valued at round ~18,000 crore. The bourses valuation now has gone previous ~2 trillion.

The NSE has been planning an preliminary public providing however wants approval from the Securities and Alternate Board of India (Sebi). The change’s board may also be mulling over a bonus issuance in its board assembly scheduled on Might 3.

The NSE continuation fund at $700 million is the biggest CV transaction in India and one of many largest single-asset CV transactions throughout Asia Pacific. The transaction was accomplished in two months with various present buyers throughout ChrysCapital’s funds indicating sturdy curiosity to take part.

First Revealed: Apr 30 2024 | 7:57 PM IST

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