IDFC Alternatives

Funds managed

Fund nameAsset ClassLicense
IDFC Private Equity Fund IVPESEBI AIF Cat 2
IDFC Private Equity Fund IIIPESEBI AIF Cat 2
IDFC Private Equity Fund IIPESEBI AIF Cat 2
IDFC Real Estate Yield FundReal EstateSEBI AIF Cat 2
India Development FundInfrastructureSEBI AIF Cat 2
IDFC Score FundCreditSEBI AIF Cat 2
  • India Development Fund (2004), an INR 8.4 billion (US$192 million) fund that has been fully exited at a Net IRR of 32%
  • IDFC Private Equity Fund II (2006), an INR 19.9 billion (US$440 million) fund, partially exited
  • IDFC Private Equity Fund III (2008), an INR 29.0 billion (US$644 million) fund, partially exited
  • In 2014, IDFC Alternatives announced the final close of the IDFC Real Estate Yield Fund – an INR 7.5 billion (US$ 125 million) domestic fund focused on the residential segment in India.

About the AMC

  • Started AIF in 2002
  • IDFC Alternatives Ltd (“IDFC Alternatives”) is a 100% subsidiary of IDFC and is an advisor and investment manager of IDFC sponsored funds across private equity, infrastructure and real estate. IDFC Alternatives is one of India’s largest multi-asset class fund managers with assets under management of approximately Rs.17,000 crores. IDFC Alternatives is active across three key asset classes: Private Equity, Infrastructure and Real Estate and has over 60 professionals based out of Mumbai, Delhi and Singapore.
  • Girish Nadkarni joined IDFC Alternatives in 2011. He has over two decades of experience across Private Equity, M&As, managing large companies, business strategy and setting up of businesses, corporate finance, treasury and risk management.
  • Girish primarily focuses on originating and evaluating investment opportunities, over-seeing the portfolio and creating exit opportunities. He has strong consumer, food agri-business, financial services and telecom sector expertise.
  • Mr. Gaurav Sharma joined IDFC Alternatives in 2015. He has over nineteen years of experience both in the US and India across entrepreneurship, private equity, M&A, corporate finance and investment banking.

Investment Philosophy (for firm)

The IDFC Real Estate Yield Fund focused on debt deals that generate high yields, while ensuring downside protection and adequate security cover. The fund has built a high-quality portfolio by focusing on established developers and brown field residential projects, which will help generate superior returns for the Fund’s investors by employing a balanced risk-return strategy.

Media

Title: GMR Kamalanga project attractive: IDFC projects Equity, Source: Economic times, Date: 06 October 2009

https://m.economictimes.com/opinion/interviews/gmr-kamalanga-project-attractive-idfc-projects-equity/articleshow/5094252.cms

We invest in projects which are either under construction or close to completion and therefore we see the GMR project as one that is particularly attractive, it is fully developed, it is optimally sized at 1050 megawatts, it has a coal block allocation which is critical for any power plant. So in investment decision we look at the time frame to completion, we look at the EPC contracts, the coal supply availability, and the credibility of the developer.

In this instance it is GMR Group that has very proven credentials in executing on projects. They have three power plants that are up and running already. They have executed on the Hyderabad project. They are on their way to executing on the Delhi Airport project so they are very credible developers so all these factors go into our evaluation in making an investment decision and we are actually very pleased with the investment that we have made alongside the GMR Group in this power plant.

Title: IDFC Private Equity completes 27th exit out of 41 investments, through IPO in Parag Milk Foods; realizes Rs.180 crores, Source: IDFC site, Date: 19 May 2016

http://www.idfc.com/media_room/press_releases54.htm

May 19, 2016, Mumbai:IDFC Alternatives multi-asset class fund managers had concluded a partial exit in its private equity fund (IDFC PE) with the IPO of Parag Milk Food Limited (“Parag”). IDFC PE had invested Rs 155 crore in Parag three years ago and is expected to receive over Rs 180 crores for its shares tendered in the Offer for Sale

Analyst questions

  • What is your investment philosophy?

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