Mumbai: The financial service arm of Tata Group, Tata Capital on Tuesday said its wholly owned subsidiary Tata Capital Pte Ltd, Singapore has entered into a strategic partnership with Japan’s Mizuho Securities Co Ltd (MHSC) to raise $500 mn private equity growth fund.
“We have joined hands with Mizuho Securities to raise USD 500 million private equity growth fund. We’ve already raised 25% of USD 500 million from local investors and will now tap international players, mainly in Asia and Europe,” Tata Capital’s managing director & CEO Praveen Kadle told reporters here.
“We plan to raise total USD one billion from both domestic and international investors during current fiscal to invest across four themes,” Kadle said.
As a part of the agreement, Tata Capital Pte Limited will partner with MHSC to raise private equity funds in Japan and other key international markets like south east Asia, the middle east (west Asia) and parts of APAC for its Singapore-based Growth Fund which will target investment opportunities in Indian companies in the mid-market space.
Private equity is one of the key business verticals identified by Tata Capital as a part of its growth strategy. The Tata Capital Growth Fund aims to provide capital and operational excellence to mid-market companies through classic private equity transactions.