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Thursday, July 30, 2009

Franklin Templeton MF invests in Career Point Infosystems

Enters into areas of education

Franklin Templeton Mutual fund (FT India) announced that Franklin Templeton Private Equity Strategy, a private equity portfolio managed by FT India and advised by Darby Asia Investors (India) (“Darby India”) the private equity affiliate of Franklin Templeton, has invested Rs 500 million in Rajasthan based Career Point Infosystems ("Career Point"). Transaction details were not disclosed.

Career Point is one of the largest and most successful competitive examination preparation companies in India, engaged in coaching for admission to IITs, NITs and other engineering colleges and universities. It has operations in 29 cities through a mix of company run as well as franchisee operations. The funds will be used for expanding its existing operations and entering into other areas of education.

Franklin Templeton Private Equity Strategy is a private equity investment product offered to high net worth individuals in India and closed in 2008. The objective of it is to make selective investments in high growth, mid-sized unlisted companies in India - in areas such as infrastructure, manufacturing, and consumer goods, and in related sectors.

Franklin Templeton has over 60 years of investment experience in international markets with presence in 30 countries and is one of the world's leading investment manager with US$451.2 billion of assets under management (June 2009).

Darby Overseas Investments (“Darby”) is the private equity arm of Franklin Templeton Investments, and is a premier investment manager in emerging markets private equity and infrastructure investing with over $2.6 billion assets under management. Darby India is an affiliate of Darby.

Career Point Infosystems (“Career Point”) is a pioneer in the engineering entrance test preparation segment of the fast growing Indian test preparation market. It has an established track record of over 15 years and has built a brand in the engineering test preparation market.

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