EQT invests in India through EQT Private Capital Asia, formerly Baring Private Equity Asia, which merged with EQT in 2022. It has completed about 20 Indian buyouts since 2011 and holds stakes in companies such as Sagility India, IndoStar and Indira IVF.
Ownership and structure
EQT invests in India through its BPEA EQT private equity funds, which took over the Baring Private Equity Asia business in 2022, with an investment advisory team based in India. Portfolio companies are held as controlling or significant stakes by the funds.
What India does for EQT
India is a core buyout market for EQT's Asia private equity business, with holdings in technology services, healthcare and financial services.
Investment and deals
EQT invested about US$6 billion in India in the 18 months to December 2024.
EQT's India business
Baring Private Equity Asia merged with EQT in 2022. Its first major Indian buyout was Hexaware in 2013.
EQT invested about $6 billion in India in the 18 months to December 2024. Past India holdings include Coforge and CMS, both since exited.
Key moves in India
- 2013: Baring Private Equity Asia completed its first major Indian buyout, Hexaware.
- 2019: Baring Private Equity Asia and co investors acquired a 70.1 percent stake in Coforge in May.
- 2022: Baring Private Equity Asia merged with EQT and became its Asian private equity arm.
- 2022: Invested in Sagility India.
- 2023: Sold its remaining 26.6 percent stake in Coforge for US$924 million through a block trade.
- 2024: Sagility India listed on the stock exchanges through an initial public offering in November.
Where it operates
EQT runs its India business from Mumbai. It also has a presence in Bengaluru.
At a glance
- Home country: Sweden
- Global headquarters: Stockholm
- Sector: Private Equity & Investments
- Business: Private equity
- Role of India: Investment portfolio
- India head office: Mumbai
- India offices: Mumbai, Bengaluru
- India headcount: Not available
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