IIFL Private Equity hits big returns with $50 mn CAMS exit

MUMBAI: IIFL Private Equity has completely exited its investment in mutual fund transfer agency Computer Age Management Services Ltd (CAMS) for $50 million ( 353 crore), having invested in the company just an year ago, said a person aware of the development.

IIFL Private Equity is part of IIFL AMC that manages multiple strategies including listed equities (through AIFs, Mutual Funds, PMS and institutional mandates), private equity, performing credit and real estate.

“IIFL PE had picked up the stake in CAMS when the company went public last year. They invested around 135 crore. They have been selling their stake over the last three months and have now completely exited the investment with stellar returns,” said the person cited above, speaking on the condition of anonymity as he is not authorized to speak with the media.

IIFL Private equity has exited the investment in just a year, which has bagged them an IRR of 174% and 2.6 times the initial capital invested, he added.

Since its IPO in September 2020, the CAMS stock has risen 2.5 times to 3,135.9 apiece as of Wednesday.

IIFL Private Equity manages around $2 billion in assets under management.

“Overall, on a portfolio level their funds are tracking an IRR in mid 20s. They have around 12 unicorns in their portfolio now including names such as Dailyhunt, Byju’s, Upgrad, Policybazaar, Swiggy, Unacademy, Pinelabs, Zomato and Swiggy,” the person cited above said.

Other major investments made by the IIFL PE funds include the National Stock Exchange, NSDL, Bikaji Foods, Northern Arc Capital and Cibil, he added.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
our App Now!!

Source link