Blackstone exits India’s Emcure Pharmaceuticals to Bain Capital


india5_lrgBlackstone has exited its investment in Indian company Emcure Pharmaceuticals to fellow private equity major Bain Capital.

Emcure, which makes and markets of pharmaceutical products, is currently ranked as India’s 14th largest pharmaceutical company.

Co-head of Blackstone’s Indian operations Amit Dixit said, “Emcure was the first private equity investment by a Blackstone managed fund in India. Since our investment, the company has significantly strengthened its position in the Indian pharmaceutical market and has established a strong presence in the US and other semi-regulated markets.

“Thanks to its management team, the company’s revenues and profits grew significantly during our investment horizon. Going forward, we believe Emcure will continue to build on its strong platform and continue its rapid growth trajectory.”

Earlier this month, Dixit and Mathew Cyriac were appointed as co-heads of Blackstone’s Indian operations to replace managing director Akhil Gupta, who now serves as Blackstone India’s non-executive chairman.

The New York-headquartered firm currently has 19-strong private equity team in India. Blackstone has invested $1.7bn across 20 private equity deals in India over the last eight years.

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