MUMBAI, June 21 U.S. private equity firm
Blackstone Group LP and Singapore state investor Temasek
Holdings are in separate talks to invest about $200
million in India's Shriram Ventures, the non-financial services
arm of Shriram Group, three sources with direct knowledge of the
matter told Reuters.
The Chennai-based conglomerate's non-financial businesses
include power, infrastructure and construction, and real estate,
and the investment would be used to fund growth, said the
sources, who declined to be named as the negotiations are not
Blackstone, Temasek and Shriram Group declined to comment.
The Shriram Group has regularly tapped private equity to
fund its businesses, with 16 different funds including Norwest
Venture Partners and ChrysCapital having invested in its
companies since 2004, according to data from Venture
Intelligence, an industry tracker.
Earlier this year, TPG Capital sold its 20 percent
stake in Shriram Transport Finance Co Ltd through open
market deals in two tranches, generating a nearly 7 times return
on a 2006 investment. .