FMG Secures $20m Private Equity Investment
30 March 2011
FMG today announced it has secured a $20 million investment from an investor group led by private equity firm India Value Fund Advisors (IVFA). The new investors will take a controlling stake in FMG and the investment will enable the firm to accelerate the creation of new products and services, develop new technologies and expand globally.
The existing FMG management team will retain a significant stake in the company, headed by Simon Berg, who will continue as the CEO of FMG.
Speaking about the new infusion of capital, Simon Berg, CEO of FMG said: “This is a significant day for FMG. The new investment is a true recognition of our capabilities and our client relationships. Very exciting times lie ahead for us as we look for further growth and expansion”
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