 "NSE, BSE, Indian stock market")
Indian private equity firm ChrysCapital has raised $700 million in new funds, allowing the firm to maintain its stake in India's National Stock Exchange (NSE) by buying itself out, the firm said Tuesday.
ChrysCapital, one of India's biggest private equity firms with more than $4 billion invested, raised the money mainly from U.S investor HarbourVest and European funds Pantheon Ventures and LGT Capital Partners.
The "continuation fund" will allow ChrysCapital to maintain its stake in the NSE, where it first invested in 2016, while the firm's older investors sell their stakes to new investors.
Private equity firms typically look to sell their investments within 8-10 years and return money to their backers.
NSE is one of India's top two stock exchanges and the world's largest derivatives exchange. Stock exchanges have boomed in recent years as India has become a relative hotbed of capital for foreign investors, who cite its status as the world's fastest growing major economy.
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