Financial services, technology, e-commerce, food & agriculture and real estate were PEs favourite sectors during the September quarter with financial services sector recording the highest number of 63 deals on an investment of US$ 2.5 billion.
The number of deals in the technology sector increased to 57 from 41 in Jul-Sep 2018 with an investment of US$ 1.8 billion. The food and agriculture segment also gained PEs interest with 21 deals. Meanwhile, e-commerce space saw a marginal decline in deal wins as it fell to 27 deals on an investment of US$ 819 million from 30 deals in Jul-Sep 2018.
On the other hand, infrastructure was the top sector in terms of valuation, followed by real estate and financial services. Investment in infrastructure was worth US$5.3 billion across 10 deals while it was US$2.5 billion each in the real estate and financial services sectors.
PE investor Brookfield’s buyout of Reliance Jio’s tower arm for US$3.7 billion was the largest infrastructure deal during the quarter whereas Baring PE Asia’s buyout of CitiusTech Healthcare Technology for US$800 million was the largest technology deal during the quarter.
Overseas Private Investment Corporation’s credit investment of US$ 185 million in Cholamandalam Investment and Finance Company was among the top financial services deal.
Private investment in public equity (PIPE) saw a sharp rise during the quarter with an investment of US$ 1.6 billion from US$ 80 million in Jul-Sep 2018.