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May 18, 2008

LPs preparing for less spectacular exits?

"We have tempered our growth expectations. But we still expect to see private equity returns commensurate with the risk we are taking, and far in excess of other markets," says CDC Group’s portfolio director of South and South-East Asia, Anubha Shrivastava, in an interview to The Mint.

"The Sensex has demonstrated that India is far from decoupled. And with the appreciation of the rupee and concern around inflation, we have tempered our growth expectations. But we still expect to see private equity returns commensurate with the risk we are taking, and far in excess of other markets." Since valuations will come down on  the  entry  side,  exits are likely to continue to yield good returns. "The recent bout of fantastic exits, though, will slow down."

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the private equity and venture capital ecosystem in India. View free samples of Venture Intelligence newsletters and reports.