London-based special situations fund ICG Strategic Equity Advisors has acquired the private equity portfolio of Standard Chartered Private Equity (SCPE) in India.
The deal was part of a global acquisition of SCPE’s private equity investments in 35 companies that are spread across India, Southeast Asia, China, South Korea, the Middle East and Africa.
ICGSE is a unit of Intermediate Capital Group that specialises in secondaries investments.
The deal includes a management buyout and the new fund to be named Affirma Capital will be led by SCPE global head Nainesh Jaisingh.
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