ChrysCapital closes $700-million continuation fund

ChrysCapital closes $700 mn continuation fund

ChrysCapital, a leading India-focused private equity firm, announced the closing of a $700-million continuation fund on April 30. The continuation fund is anchored by HarbourVest Partners, LGT Capital Partners, and Pantheon Ventures.

The newly closed continuation Fund has acquired a stake in the National Stock Exchange of India, the announcement added. A continuation fund provides greater flexibility than the traditional private equity model by allowing sponsors to hold onto the assets beyond the typical fund term.

The stake originally belonged to ChrysCapital VI, LLC . ChrysCapital Fund VI first invested in NSE in 2016 and will continue as a significant, long-term shareholder in the company through the continuation Fund.

"The transaction provided Fund VI investors an opportunity to monetize the performance on a highly successful investment, while allowing continuation fund investors the opportunity to invest in India’s leading stock exchange and the world’s largest derivatives exchange. As part of the transaction, Fund VI investors were also provided with the option to roll their value into the Continuation Fund," the announcement said.

Over the last 25 years, ChrysCapital has raised over $5 billion across nine funds, and realized over $7 billion for its investors, with six of its nine funds fully liquidated.