The September quarter witnessed a record performance in PE/VC investments worth US$16.4 billion across 289 deals, said an Indian Private Equity & Venture Capital Association and EY report. So far in 2019, the total value of PE/VC investments stood at US$40.3 billion, 7.4% higher than in 2018.
The industry saw 40 large deals worth US$12.7 billion, the highest in any quarter. Infrastructure and real estate contributed 48% investments worth US$7.8 billion to the total PE/VC space.
From all large deals, 14 out of the 40 deals were in the infrastructure (five deals) and real estate (nine deals) sectors.
“The strong growth was primarily driven by investments in the infrastructure sector that accounted for 32% of all PE/VC investments in 2019 compared to 12% in 2018. With increasing interest from large global pension and sovereign wealth funds combined with evolution of new investment structures like InvITs and REITs, we continue to project sustained growth in real asset investments in India,” said Vivek Soni, Partner and National Leader Private Equity Services, EY.
Brookfield’s buyout of Reliance Jio’s tower arm for US$3.7 billion was the largest deal in Jul-Sep.