Kedaara close to raising $1.7 billion for India’s biggest PE fund, sources say

Kedaara Capital is set to raise $1.7 billion for what would be India’s biggest-ever private equity fund, two people with direct knowledge of the matter said, highlighting huge interest in the country’s fast-growing economy amid a shift away from China. The latest fund will be Kedaara’s fourth and will be 54% larger than its previous one in 2021. The plans come as India’s stock markets are trading at record highs. While there have only been a handful of significant India-specific PE funds to date, they are growing in size. Kedaara, founded in 2011 by former Temasek and General Atlantic executives,…