Date:30/09/11,
Private Equity,
Domestic Fund,
Tano Capital raises $97 million for the second close of Tano India Private Equity Fund II, which is targeting $150 million, according to a statement. The first close of the second fund, which will focus on mid-market companies in India, in November 2010 at $54 million. The fund, raises from offshore investors only, has seen commitments from family offices, institutions and fund-of-funds, among others.
Tano Capital LLC, which focuses on emerging Asian economies like India and China, founded in 2004 by Charles E Johnson, former co-president of Franklin Templeton Investments and CEO of Templeton Worldwide Inc. The firm’s first India fund raises $100 million and invests across 10 companies. Tano India Advisors led by Hetal Gandhi and Carlton Pereira.
Tano Capital is looking to invest between $12 million and $20 million from the new fund across eight companies (approximately). The private equity firm, which has made several bets in manufacturing, engineering and healthcare space, will continue to look for invest opportunities in these areas, besides targeting others. It will also focus on sectors like infrastructure ancillaries, consumer discretionary, healthcare and manufacturing.
Charles E Johnson, Tano Capital’s founder and managing director, said, “It has been the rock-solid performance of my Mumbai-based Indian partners, Mr Hetal Gandhi and Mr Carlton Pereira, through our affiliate Tano India Advisors, which has enabled us to achieve this excellent milestone in a most difficult fundraising environment.”
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