GQG Partners Sells Stake in Adani Enterprises; New Private Credit Funds Launched
GQG sells Adani Ent shares; ASK, Lighthouse launch private credit funds
Business Standard
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GQG Partners sold a 0.46% stake in Adani Enterprises for ₹1,435 crore ($173 million USD) to SBI Mutual Fund. Meanwhile, ASK Alternates and Lighthouse Canton launched private credit funds targeting ₹2,500 crore ($300 million USD) and ₹1,200 crore ($145 million USD) respectively, aiming for high returns in India's private credit market.
- 01GQG Partners sold a 0.46% stake in Adani Enterprises for ₹1,435 crore ($173 million USD).
- 02SBI Mutual Fund purchased the shares at an average price of ₹2,435.6 each.
- 03ASK Alternates aims to raise ₹2,500 crore ($300 million USD) through its new private credit fund.
- 04Lighthouse Canton is targeting ₹1,200 crore ($145 million USD) with its private credit fund.
- 05Both funds focus on senior secured lending strategies with high-teen returns.
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GQG Partners has divested a 0.46% stake in Adani Enterprises, raising ₹1,435 crore (approximately $173 million USD) by selling 5.89 million shares at an average price of ₹2,435.6 each to SBI Mutual Fund. Following this, ASK Alternates and Lighthouse Canton have launched private credit funds targeting ₹2,500 crore (around $300 million USD) and ₹1,200 crore (approximately $145 million USD) respectively. These funds aim to capitalize on India's growing private credit market, focusing on senior secured lending strategies and targeting high-teen returns. The recent IPO of Bagmane Prime Office Reit also saw success, closing nearly 4% higher on its debut.
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The sale of Adani shares and the launch of private credit funds may influence investment strategies and market liquidity in India.
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