Indian private equity firm Multiples Alternative Asset Management Pvt is seeking more than US$300 million in a secondary deal to give the firm more time and money to hold on to at least two of its assets, according to people familiar with the matter.
Preeti Singh, Baiju Kalesh, and Saikat DasLyle Stein, president of Forvest Global Wealth Management, joins BNN Bloomberg to discuss North American and global stocks.
The Mumbai-based firm, backed by Canada Pension Plan Investment Board, plans to use a structure known as a continuation fund to retain its stake in Vastu Housing Finance Corp. said the people, who declined to be identified citing private information. Multiples also plans to extend its ownership of APAC Financial Services Pvt through the continuation fund, the people said.
Multiples invested in Vastu in 2016-2017 and in APAC Financial in 2018. Since then, it has sold part of its stake in Vastu to TA Associates Management LP.
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