PAG-Backed Indian Asset Manager Eyes Mideast For $400 Million.

Nuvama Group, an asset management unit backed by PAG in India, is planning to raise $300 million from wealthy individuals and family offices in the Middle East for its latest fund. The fund, called Nuvama Crossover IV, will invest in companies preparing to go public on Indian stock exchanges. Indian money managers are increasingly looking to raise capital from international markets, including the Middle East, the US, and the UK, to tap into the rising wealth and buoyant stock markets in India. Nuvama also plans to raise another $100 million from the region for a new public equities long-short product. [Extracted from the article]