Statement re Acquisition of Investment Manager

RNS Number : 5163X

India Capital Growth Fund Limited

27 November 2017

 

27 November 2017

INDIA CAPITAL GROWTH FUND LIMITED

(the "Company" or "ICGF")

(a closed-ended investment company incorporated with limited liability under the Laws of Guernsey with registered number 43916)

Acquisition of Investment Manager by Avendus Capital

Further to the announcement made on 9 August 2017, the Company has been informed by Ocean Dial Asset Management Limited ("ODAM"), the investment manager of ICGF, that Avendus Capital Private Limited ("Avendus Capital") has completed the acquisition of ODAM through a wholly owned UK subsidiary, following receipt of regulatory approval from the UK Financial Conduct Authority and Indian regulators including the Securities and Exchange Board of India.

Avendus Capital is an India-based financial services company registered with the Securities and Exchange Board of India and majority owned by funds and investment vehicles managed or advised by Kohlberg Kravis Roberts ("KKR") and Avendus' management.

Enquiries

Temple Bar Advisory (PR Advisers)

Tom Allison/ Ed Orlebar/ Alycia MacAskill

020 7002 1080

Ocean Dial Asset Management Limited (Investment Manager)

Robin Sellers / David Cornell

020 7068 9870

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett / Carolyn Sansom

020 7383 5100

Stockdale Securities Limited (Broker)

Robert Finlay

020 7601 6115

Apex Fund Services (Guernsey) Limited (Administrator)

Stephen Cuddihee

01481 706999

About India Capital Growth Fund

India Capital Growth Fund Limited ("ICGF"), the AIM quoted investment company registered and incorporated in Guernsey, was established to take advantage of long term investment opportunities in companies based in India. ICGF predominantly invests in listed mid and small cap companies, although investments may also be made in large cap Indian companies where the Investment Manager believes long-term capital appreciation will be achieved.

Company website: www.indiacapitalgrowth.com

About Avendus Capital and Avendus Group

Avendus Capital, headquartered in Mumbai, India, is the flagship company of Avendus Group. Avendus Group is a leading provider of financial services in India across Investment Banking, Wealth Management, Structured Credit Solutions and Alternative Assets Management. The majority shareholder of Avendus Capital are funds managed by KKR, a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, through its strategic partners, hedge funds.

Company website: www.avendus.com

 

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