In the fourth quarter of 2023, private equity investments amounted to $1.9 billion, indicating a 43.5% substantial decline from $3.35 billion in the year-ago period and a 6.2% improvement from Q3 2023. The total number of deals in Q4 2023 declined by 27.9 per cent to 274 compared to 380 in Q4 2022. This brings private equity investments in 2023 to US$8.97 billion, down 63% from a year ago.
The challenging macroeconomic environment resulted in the total PE fundraising activity in India to touch $6.6 billion in 2023, down 50% from a year ago.
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“Given the record amount raised by India-based PE funds in 2022 (US$13 billion), substantial capital remains poised for deployment. While persistent headwinds may impede growth, the increased investor interest in India’s growing sectors, such as technology, healthcare, and renewable energy, along with the China-to-India narrative, and the expectations for lower interest rates in 2024, stand as potential drivers likely to bolster activity in the forthcoming year,” said Elaine Tan, Senior Manager, LSEG Deals Intelligence.
First Published: Jan 16 2024 | 11:23 AM IST