"The environment may be tough for private equity fund managers who are struggling to raise their debut funds, but Manish Kejriwal has managed to buck the trend. Kedaara Capital, founded by the former head of Temasek India has successfully roped in some of the largest sovereign funds such as Temasek Holdings and Abu Dhabi Investment Authority (ADIA).
According to sources in the know, Kedaara Capital raised $500 million last month. About half the amount has come from major investors including Temasek, ADIA and Canada's Ontario Teachers Pension Plans (OTPP), one of the largest pension funds in the world.
Kedaara Capital, set up by Kejriwal, and Sunish Sharma (former managing director of General Atlantic India) in October 2011, had roped in UK-based PE firm - Clayton, Dubilier and Rice (CD&R) last year."
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