Barings Equity pins hopes on infotech sector

Our Market Bureau

Mumbai, Feb 8: "India's greatest strength which would help it compete internationally is the software industry," said chairman of the Baring Private Equity Partners Asia, John Dare. The Barings Equity Partners seem to have invested about 50 per cent of their India dedicated funds, which is about $15 million, exclusively in the IT sector companies. "We don't specialise in a particular industry. But here in India we have chosen to adopt a focussed strategy," explained Dare, in the light of the investments made in four IT companies. It may be recalled that Barings holds over 50 per cent equity of BFL Software. Barings equity participation in the company also helped the company emerge as a market favourite during the last quarter of 1998.

Baring Private Equity Partners has a total global exposure fund of $1.5 billion of which $30 million has been assigned for India. The fund has earmarked about $250 million for Asia and plans to raise a fresh fund of $100 million in Asia.Besides BFL Software, Barings EquityPartners also has commendable stake in other listed and non-listed IT majors like BISIL, SRA Systems and MPHASIS.

According to the senior partner of Barings Equity Partners Asia, Christopher Brotchie, Barings has followed a strategy of holding over 25 per cent stake in the acquired company, which allows them to influence the decision making of the company.

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