I Squared, Hinduja eye Fourth Partner – EQ Mag
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New Delhi: I Squared Capital and Hinduja Renewables Energy Pvt. Ltd are the remaining contenders vying to acquire TPG Capital’s majority stake in Hyderabad-based Fourth Partner Energy Pvt. Ltd at an equity value of about $350 million, two people aware of the development said.
Bank of America and Investec are managing the sale of TPG Capital’s 52% stake in Fourth Partner Energy, which operates in several Asian nations. Fourth Partner Energy, which counts TPG Capital’s RISE Fund and Norway’s Norfund as investors, has a current installed green energy capacity of 1 gigawatt (GW) and plans to triple it to 3GW by 2025.
I Squared Capital, Canada’s Alberta Investment Management Corp., Ontario Municipal Employees Retirement System (OMERS), and Brookfield Asset Management Inc. were exploring investing in Fourth Partner Energy, Mint had reported earlier.
Source: livemint
