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Thursday, October 8, 2009

PE firms investment drops by 70% to $763mn

Private Equity investment dropped by 70 per cent to $763 million across 47 deals during the quarter ended September 2009, according to a study by Venture Intelligence, a Chennai-based research firm focused on Private Equity and M&A transaction activity in India.“While the amount invested during the latest quarter was during the quarter was significantly lower than that during the same period last year (which witnessed $2,581 million invested across 132 deals) and also lower compared to the immediate previous quarter ($964 million across 47 deals). The latest numbers take the total PE investments in the first nine months of 2009 to $2,360 million (across 140 deals) as against the $9,479 million (across 365 deals) during the corresponding period in 2008” said Arun Natarajan, chief executive officer, Venture Intelligence India.The largest investment during third quarter 2009 was the $255 million investment by KKR (along with one of its LPs) to buy out Flextronics' residual stake in telecom software services firm Aricent. The deal accounted for a third of value of investment during the period, he added

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.2% 5.4% 5.5% Revised from 5.6%
15:30 NFIB Business Optimism Index 1 98.8 95.9 95.8
18:25 Redbook Index (YoY) 1 4.7% 4.9%
21:00 52-Week Bill Auction 1 3.94% 3.93%
22:30 3-Year Note Auction 1 3.972% 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 0.7M -3.3M
04:15 Visitor Arrivals (YoY) 1 -8.4%
15:00 10-y Bond Auction 1 4.673%
16:30 MBA Mortgage Applications 1 -3.9%
18:00 Building Permits (MoM) 1 2.2% -4.1%
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