ChrysCapital Closes its USD 700 Mn Continuation Fund in India The Continuation Fund has acquired a stake in National Stock Exchange of India Ltd from ChrysCapital's Fund VI.
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India-focused private equity firm ChrysCapital has announced the closing of a USD 700 million continuation fund. The continuation fund is anchored by HarbourVest Partners, LGT Capital Partners, and Pantheon Ventures ("Continuation Fund").
The newly closed Continuation Fund has acquired a stake in the National Stock Exchange of India Ltd ("NSE"). The stake originally belonged to ChrysCapital VI, LLC ("Fund VI"). ChrysCapital Fund VI first invested in NSE in 2016 and will continue as a significant, long-term shareholder in the company through the Continuation Fund.
The transaction provided Fund VI investors an opportunity to monetize the performance of a highly successful investment while allowing Continuation Fund investors the opportunity to invest in India's leading stock exchange and the world's largest derivatives exchange. As part of the transaction, Fund VI investors were also provided with the option to roll their value into the Continuation Fund.
According to the official release, the transaction was oversubscribed, is the largest of its kind in India, and ranks among the largest across the Asia Pacific.
HarbourVest Partners and LGT Capital Partners led the structuring of the Continuation Fund. UBS Private Funds Group served as the exclusive financial advisor to ChrysCapital. Cooley LLP advised ChrysCapital, and Kirkland & Ellis LLP acted for HarbourVest Partners and LGT Capital Partners.
Since inception, ChrysCapital claims to have invested over USD 4 billion across 100+ deals and realised USD 7 billion from 80 full exits.
