Avendus PE Investment exits fund

Avendus PE Investment Advisors today said it has fully exited from a fund, which had been a "strong" performer over the last more than three years, and returned the proceeds to investors.

The asset management and investment advisory firm, a subsidiary of Avendus Capital - which focuses on private investment in public equity, has exited from Avendus Special Situations Strategy-II Fund (Avendus Fund II) portfolio.

Avendus Fund II performed well and delivered "strong" returns both on an absolute and a relative basis, in what has largely been a tough investment market over the last 3.5 years.

On a fund level (consolidated for all investors), the fund has delivered a gross annualised return of 17.8 percent (post tax) and net annualised return of 13 percent (post tax), a company release said.

"Our prudent investment strategy of investing in sectors which benefit from India's rising consumer discretionary spend, rural prosperity and rapid urbanisation, has been validated by the success of this fund.

"Our investors have appreciated that the relative outperformance of the portfolio over the benchmark index has remained quite consistent in spite of the economic volatility," Avendus Capital Co-founder, MD and Chief Executive Ranu Vohra said.

Avendus Capital recently entered into a JV with Zodius Capital Advisors, an investor-operator of India-centric technology companies, to invest USD 400-500 million in emerging leaders in the high growth digital and social, mobile, analytics and cloud) based business services.