US-headquartered Private Equity firm Blackstone stepped on the gas on its India investments, committing to invest over half a billion dollars in just the three months ended September 2011, according to the Venture Intelligence quarterly Private Equity Roundup Reports. Overall, Private Equity firms invested about $2,249 million across 98 deals during the quarter (not including Real Estate investments).
Three of Blackstone's investments during the period were targeted at companies involved in Power Projects: SKS Chhattisgarh Power Generation ($261-M via the Blackstone owned Sithe Global Power); Visa Power ($111-M) and Monnet Ispat & Power ($29-M in the listed group company of Monnet Power - in which it had invested $60-M last year). Blackstone was also involved in the largest real estate sector investment announced during Q3’11: a reported $200 million investment in Bangalore’s Manyata Embassy Business Park. The firm also wrote a small cheque (by its standards) - of about $33 million - to financial inclusion-focused tech firm FINO.
As per data available in the Venture Intelligence Private Equity Deal Database, the latest investments take Blackstone's overall India investments (not including Real Estate) to over $1.8 billion. It's first investment, announced in April 2006, was a $50 million cheque for Pune-based Emcure Pharmaceuticals. 2011 also witnessed Blackstone's first exit from its India portfolio - via the sale, in June, of BPO firm Intelenet (in which it had acquired a majority stake in June 2007) to UK-based Serco.