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Rishi Aswani, Director in the Alternatives Asset Advisory practice of Duff & Phelps in India, has had an opinion piece published in the October 2017 edition of RIPE, titled “Is India a Secondaries Destination for Limited Partners?”. RIPE is the IVCA’s (Indian Private Equity & Venture Capital Association) semi-annual journal.
The article discusses the fact that the majority of money invested with General Partners (GPs) in India has yet to be returned to investors. Liquidity prospects have improved over the past two years due to a lively IPO market, high valuations, increased M&A activity and an emerging trend of transactions between GPs. However, many GPs continue to hold investments in pre and post global financial crisis vintages, and the current exit pace may not be sufficient to provide traditional exits for these aging assets.
The full article is available on the IVCA website.