SEFL has also received EoIs for capital infusion of about USD 250 million from US-based multi-strategy investment firm Arena Investors LP and Singapore-based global financial services company Makara Capital Partners.
The board of directors of Srei Infrastructure Finance Limited (“Srei”) and its wholly-owned subsidiary Srei Equipment Finance Limited (“SEFL”) held meetings on Friday, April 23, 2021. SEFL announced that it has further received an expression of interest (“EoI”) for capital infusion from Cerberus Global Investments B.V.
Established in 1992, Cerberus comprises one of the world’s leading private investment firms with approximately USD 53 billion under management across multiple strategies. Cerberus is headquartered in New York City, USA, and has advisory offices in Mumbai, Tokyo, Hong Kong, Singapore, Beijing, London, Dublin, Dubai, Madrid and Frankfurt, among others.
SEFL has also received EoIs for capital infusion of about USD 250 million from US-based multi-strategy investment firm Arena Investors LP and Singapore-based global financial services company Makara Capital Partners.
SEFL has proceeded with discussions with both Arena Investors and Makara Capital and the company’s Strategic Coordination Committee (“SCC”), chaired by Independent Director Malay Mukherjee, is currently engaged in discussions with the private equity (“PE”) funds to bring capital into the business.
The SCC has been running an independent process for investments in SEFL and many large players have evinced interest. The proposed capital infusion, which is being carried out in parallel to the company’s debt realignment plan, is expected to provide cushion against the pandemic induced stress in the Indian financial services space. Ernst & Young (“E&Y”) is advising the SCC on the fund raising exercise.