According to EY’s PE monthly deal tracker, large value deals of over $100 million continued to dominate the activity with the financial services sector leading the way. “January 2018 recorded almost double the value of investments witnessed last year ($3.5 billion in Jan 2018 vs $1.2 billion in Jan 2017). Compared to December 2017, investments grew by 32 per cent in value terms,” said the PE monthly deal tracker report.
The report pointed out that this increase was primarily on account of a large investment worth $1.7 billion by a group of investors including GIC, KKR, CPPIB, Ontario Municipal Employees Retirement System, Carmignac Group and Premji Invest in India’s premier mortgage lender HDFC. The report showed that the first month of 2018 also recorded 26 exits worth $970 million.
“January 2018 recorded $970 million in exits, 10 per cent higher than January 2017 and 42 per cent higher compared to the previous month,” said the EY deal tracker. In terms of volume, there were 26 exits in January 2018 compared to 15 in January last year and 22 in December 2017, it said. Sector-wise, industrial products (six deals) and food and agriculture (four deals) recorded the highest number of exits. The report said in terms of value, technology was the top sector with exits worth $332 million.