Kedaara Capital has closed its $1.73 billion fund, Kedaara IV, the largest fund raised by an India private equity fund in 12 years. The fund, which will be its fourth in 12 years, was raised in just four months beginning last December and would even surpass Chrys Cap’s $1.3 billion Fund IX raised in 2023. Around 85% of Kedaara’s new fund was raised from existing backers, including the three of the largest Canadian pension funds – CPPIB, CDPQ, and Ontario Teachers’ Pension Plan (OTPP).
