December 3, 2020


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    Heather Jensen, 202-872-0500,

    Darby Private Equity divests its holding in Symbiotec Pharmalab Limited (Regional - India)

    Washington, DC, October 31, 2013 - Darby Private Equity ("Darby"), the private equity arm of Franklin Templeton Investments, announced that Franklin Templeton Private Equity Strategy ("FTPES"), has divested its equity holding in Symbiotec Pharmalab Limited, ("Symbiotec") to private equity firm Actis. Symbiotec, based in Indore in Central India, is engaged in research, development, manufacturing and marketing of research based active pharmaceutical ingredients for corticosteroids and hormones. Symbiotec has over 200 customers, including large multinationals as well as generic pharmaceutical companies.

    FTPES, a fund advised by Darby, invested in Symbiotec in September 2011 to support its growth and backward integration plans.

    FTPES was established in 2008 with total initial capital commitments of around Rs 6,300 million (US$147 million)1. FTPES makes selective investments in high growth, mid-sized unlisted Indian companies. FTPES is managed by Franklin Templeton Asset Management (India) Private Limited India and advised by Darby.

    David Hudson, Senior Managing Director, Darby Asia, commented that "We are excited about the success of the Symbiotec investment, the first exit from the FTPES portfolio. Symbiotec represents an excellent example of how long-term growth capital can help mid-sized companies capture their potential."

    Deepa Sankaran, Managing Director, Darby India, commented "Symbiotec is a leading Indian manufacturer of active pharmaceutical ingredients (APIs) used in high quality medications, including treatments for inflammation, asthma, dermatology, immune functions, and infertility. We backed a good business and an effective management and have benefited from this through a fruitful exit."

    Darby Private Equity was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003, Darby became a fully-owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. For more information please visit

    Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and more than US$844 billion in assets under management as of September 30, 2013. For more information, please visit

    (1) Exchange rate assumed = INR 42.72 per USD, the exchange rate effective on July 11, 2008