We still have enough dry powder to deploy in India: Baring EQT CEO Jean Salata

economictimes.indiatimes.com:

healthcare to grow families and improve the standard of living is opening newer investment opportunities for Baring Asia-EQT, said one of its key executives. Baring Private Equity Asia-EQT (BPEA-EQT) announced two headline transactions in as many months. In June, it teamed up with Chrys Capital to buy 90% of Credila, the education loan arm of HDFC Ltd, for $1.1 billion--the largest-ever private equity (PE) buyout in India in the financial services sector. The following month, it invested $650-700 million for a 60-65% stake in Indira IVF, the largest provider of fertility services in India and among the top five globally in terms of annual in vitro fertilisation (IVF) cycles. Baring Asia and Sweden’s EQT announced a $7.5 billion merger in 2022 to create the world's third-largest PE fund group. “We continue to remain positively inclined to make more investments. We are not going to maintain that same pace of investments every month, but we are still inclined to making more investments in healthcare,” said Jean Salata, CEO, BPEA-EQT. “We just announced Indira IVF and we did AIG Hospitals in Hyderabad last year. We are still open to doing more in financial services, and of course tech and IT services has been the main thrust for us.”

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As per reports, Baring has also been approached for buying the promoter stake in Cipla, either partially or in its entirety. “The total amount we have invested in India is close to $7.5-$8 billion of equity. And that probably makes us one of the largest foreign investors in the country,” said Salata in an exclusive interaction with ET. “Our fund from which we are investing still has a lot of dry powder