Hanover Square opens up India fund to outside investors


After a remarkably robust performance in the last three years, Hanover Square Capital’s internally seeded India Growth Fund is now eyeing outside money in a bid to grow to a $200 million size in a year’s time.

The Mauritius-domiciled fund, which was launched in May 2009, has delivered a 27% annualised return in US dollar terms, which is no mean feat given the backdrop of disappointing returns from many India-focused funds recently.

The long-only strategy, which invests in 30 to 40 stocks of large- and mid-cap Indian firms, posted its strongest performance in 2009, when it delivered a