Baring Private Equity Partners India

Akhil Awasthi will join Tata Capital as head of private equity. His departure follows that of Subbu Subramaniam two months ago.

Subbu Subramaniam has quit the India-focused private equity firm, reportedly due to differences with managing partner Rahul Bhasin.

The Delhi-based private equity firm has acquired 7.6 million MphasiS shares on the open market for about INR1.3bn. This is the second time the firm has invested in the BPO and IT service provider, after diluting much of its stake in 2006.

The Delhi-based private equity firm will invest up to $15m in Sphaera Pharma. It is the first deal for its $550m Fund III closed earlier this year.

In an era where investors are increasingly focused on experience and track record, it’s arguably never been harder to raise a debut fund. Yet some groups are managing to buck the trend.

The firm started by ex-Baring PE Partners India partner Subbu Subramaniam is in the market and close to securing an anchor commitment.

The commitment takes the maiden fund of Renuka Ramnath's Multiples Alternate Asset Management one step closer to its $450m target.

The Baring Private Equity India co-founder, who left the firm in August, is still deciding his future direction, but said a 'fundraising is inevitable'.

Alok Mittal and Izhar Shay will augment the firm’s presence in India and Israel respectively. Both will continue to focus on the technology sector.

The Asia-focused private equity firm is backing the expansion plans of RSP Design Consultants - Baring's second investment in the construction and infrastructure services sector in India this year.