Investcorp raises $142m for first Indian buyout fund

Investcorp raised about 10 billion rupees ($142 million) for its first India private equity fund, just months after the Bahrain-based alternative asset manager opened in the country.

The fund will focus on investments in the consumer, financial services and healthcare industries and has already deployed 2.7 billion rupees in four companies - Incred, ASG, Zolo and Citykart, Investcorp said in a statement.

The limited partners of the fund comprise Indian banks, insurance companies, family offices and international fund of funds, according to the statement.