New India Turnaround Fund

New India Turnaround Fund

San Jose, CA (PRWEB) October 9, 2004

Private equity group headed by Geneva based investor Joshua Boroun is planning to invest in turnaround funds, with first stop – India. TechGroup200, a private equity firm with US$ 1 billion under management, will look at promising and establish turnaround fund managers in India and beyond.

“The turnaround industry is a tough business,” said Joshua Boroun, Managing Partner of TechGroup200. “We are well aware of the difficulties but we do see plenty of opportunities where a good turnaround fund manager can put his money into a turnaround situation and really make it work,” added Boroun.

For the past few months, TechGroup200 has been looking at such opportunities in India. “Our partner at FOV has been looking at different turnaround teams in India. They have identified an investment team that we can work with. The team is backed by a reputable group in Australia that has over 30 years of existence and over 10 years of dedicated presence in recovery, turnaround and insolvency services. Turnaround investments are different from venture capital deals. We have to be more hands on than ever,” said Boroun. FOV which advises TechGroup200 on its fund investment also manages a portion of TechGroup200’s money.

TechGroup200 will make all its turnaround fund investments via FOV. It is expected to complete one fund investment before the end of the year.

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