Paragon Partners raises USD 120 million for its first PE fund

Private_Equity Company Paragon Partners has announced on Monday announced the completion of fund raising for its private #equity fund, PPGF-I to invest in mid-size companies, securing commitments of 120 million dollar approx, from domestic and global investors.

The fund’s limited partners include a large sovereign wealth fund, a development financial institution, funds of funds, insurance companies, family offices and HNIs.

The fund will focus on the key sectors such as consumer discretionary services, financial, Infrastructure, Industrials & Healthcare services. The fund has an advanced pipeline of investment scopes across these sectors.

The company currently has a footprint across Mumbai, pursuing a growth capital strategy that involves an active role in value creation in its portfolio companies, particularly in the areas of business development, operational efficiency and organizational development.

Week end Watch of Stock: Stocks build on Moody's India upgrade

Indian Stock markets cheered wit Moody’s upgraded India’s rating from Baa3 to Baa2 and changed the outlook from the positive to stable. In the weekend, the BSE Sensex closed at 33,342 up by 235 points, whereas NSE Nifty ended trade at 10,283 up by 68 points.

The selling pressure pulled the Sensex to its lowest closing streak in more than 3-weeks and the Nifty to its lowest closing level in 5-weeks on Wednesday, 15 Nov 2017. The market recovered due to bargain hunting in the last 2 trading sessions.

For the week, the Sensex spiraled 28.24 points, or 0.08%, while the Nifty shed 38.15 points, or 0.36%.

Sentiment got a huge pick-up after the U.S based Moody's has up-graded India's sovereign credit rating by a mark to 'Baa2' with a secure outlook showing improved growth prospects driven by economic & institutional development.

The ratings upgrade arrives just weeks after the World Bank elevated India up 30 places in its annual Ease of doing biz rankings.

Reliance General Insurance enters into multiyear “Bancassurance” tie-up with YES Bank

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Non-life Insurer, Reliance General Insurance Co. Ltd (RGI), a subsidiary of Reliance Capital has inked a comprehensive Bancassurance tie-up (A corporate Agency agreement) with YES BANK with the aim to distribute multiple general insurance products to the YES BANK customers, further expanding its distribution network.

This is the first tie-up signed by the bank since the open-architecture norms under the Corporate Agency regulations were introduced by IRDAI in April 2016. With this alliance, Yes Bank remains committed to leveraging its Pan-India branch network to capitalize on the vast opportunities in the Indian bancassurance market.

The bancassurance channel is expected to have potential to reach out to the last mile and serve untapped markets, thus promoting the insurance penetration in India.