Rajeev Misra, who was at one time a key lieutenant of Japanese behemoth SoftBank’s billionaire founder Masayoshi Son, has participated in a debt issue floated by the Shapoorji Pallonji group through his new venture, One Investment Management(OneIM), per media reports.
OneIM has infused a $50-million credit in the Mumbai-based conglomerate as the latter raised $1.7 billion through a bond sale that closed recently.
Misra made headlines last year when he stepped back from his executive role at Japan’s SoftBank Vision Fund (SVF) to scout for investment opportunities from his new fund. He, however, remains the CEO of SoftBank Investment Advisers, leading the activities for the $100-billion SVF-I.
Sources had last year told DealStreetAsia that Misra, through his new fund, was looking to make investments in markets such as India and Europe.
In India, OneIM is looking to tap local firms and large conglomerates across public and private markets, and these could be both debt and equity transactions in the non-tech or tech spheres, Misra told The Economic Times in a recent interview. He is also open to investing in profitable growth-tech firms if SoftBank passes them on, the report further stated.
OneIM currently has a corpus of $7 billion. But it is understood to be in the process of raking in more money.
Earlier this year, in May, OneIM had provided a $470-million high-interest loan to WeWork, a provider of co-working spaces, which also happens to be one of the biggest failed bets made by SoftBank’s Son. Besides, the firm has pumped $250 million in UAE state energy company Adnoc Gas.
OneIM’s limited partners include the likes of the International Holding Company (IHC), Alpha Dhabi, Mubadala, and the Abu Dhabi Office of Finance (Ministry of Finance for Abu Dhabi).