What is Reliance Capital’s broader alternative investment strategy?
Will you look at real estate and hedge funds? We would like to look at all the opportunities in the financial services space. Reliance Capital is present in practically all the larger financial service businesses. They are the market leader in most of them like mutual funds, insurance and now we have private equity and asset reconstruction arms. We will look at opportunities where we don’t have a presence. We examine them on a constant basis and we will enter those areas when the time is right. Q. What is your take on valuations at this point in time? Do you think the PE market is overcrowded? Promoter expectations continue to remain fairly high. That is an issue in the Indian market although we are finding some deals where valuations are realistic. While there are many funds operating in India, the competition is still not that much. In most of the deals, we find the same 3-4 names cropping up. Majority of funds tend to be niche players and not very active. Q. Do you find secondaries
