NewQuest makes second deal from Fund III

The direct secondaries firm, which is planning to open a Mumbai office, has made a $21m investment in construction and engineering companies in India

NewQuest Capital Partners has made the second deal from its recently closed third fund by investing in the only two assets held in private equity firm Paragon Partners‘ portfolio – both of which are India-based.

The direct secondaries firm, which is planning to open a Mumbai office this year, invested $21 million in construction company Capacit’e Infraprojects and precision engineering company Maini Precision Products through a combination of primary and secondary shares, according to a statement. 

Hong Kong-headquartered NewQuest invested alongside Infina Finance, an investment company owned by Mumbai-based investment bank Kotak Mahindra.

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