Wednesday, November 22, 2006

Anil Ambani's Global Buyout Fund

While other Indian Companies are busy shopping in the Global M&A Bazaar, Anil Ambani is lining up a Multi-Billion Buyout Fund aimed at the global markets. He had tasted blood in the domestic market as an equity investor in many small firms. Now he wants to go after the Big fishes in the telecom sector. Anil Ambani is said to have putin $500 million of his personal wealth. Good going. More from ecotimes:

Anil Ambani plans to launch a global buyout fund of about $5 bn aimed at telecom and related sectors and is in talks with billionaire speculator George Soros, private equity giant Blackstone group and Singapore’s Temasek for participation. Mr Ambani has already contributed $500m of his personal money to the fund as anchor investor.

He has received commitments of up to $2.5 bn from several investors. Mr Soros, Blackstone and Temasek are likely to participate soon, people familiar with the developments said. The name of the fund has not been decided but it is likely to be headquartered in Singapore.

While Mr Ambani will be the fund’s main sponsor, the management team is likely to be separate. The money Mr Ambani has invested is his personal wealth, sources said. The fund will focus on buying companies in sectors like media, communications technology and software, IT-related services, BPOs, telecom or broadband services.

The mandate will be global and the fund will not operate in India. The objective is to take advantage of the vast opportunities in the global telecom and communications space. With a large corpus on which additional debt can be easily raised and with the backing of investors with deep pockets, the fund could look for big-ticket acquisitions in Asia and the Middle-East

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