Business Standard 23 April
(Mumbai) Today, Padmanabh Sinha, or Paddy Sinha as he is often called in the private equity industry, is a relaxed man. After taking charge of the PE arm of the $80-billion Tata Group, Paddy has added another feather in his cap — he has raised a maiden $600-million fund, the largest India-focused fund raised in the last five years.
Early this month, Tata Opportunities Fund had closed its maiden fund by raising a corpus of $600 million, even as general partners struggled to raise their first funds. By leveraging the Tata Group brand, the fund successfully raised money from a mix of sovereigns, institutions and family offices across countries such as Korea, Japan, Singapore and the US, as well as some West Asian countries.
“Yes, we have raised the largest corpus in the last five years in the toughest fund-raising market. However, finding out the right opportunities is another hurdle before us,” Sinha said in his first media interaction since taking charge of the PE fund.
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