HONG KONG: Indian infrastructure specialist IDFC Private Equity is
raising a new $700 million fund to buy stakes in firms expected to
thrive as the country modernises its rag-tag power and transport
networks.
IDFC's managing director for investment, Satish Mandhana, told Reuters
the fund would close in the next two to three weeks, with around 85
percent of the money coming from abroad. "Current interest is beyond
$700 million, so we might go up to that," Mandhana said of the planned
fund.
"Our model is to invest into companies with a portfolio of assets," he
said in an interview on the sidelines of a conference in Hong Kong.
"We're trying to generate private equity returns, not infrastructure
returns."
raising a new $700 million fund to buy stakes in firms expected to
thrive as the country modernises its rag-tag power and transport
networks.
IDFC's managing director for investment, Satish Mandhana, told Reuters
the fund would close in the next two to three weeks, with around 85
percent of the money coming from abroad. "Current interest is beyond
$700 million, so we might go up to that," Mandhana said of the planned
fund.
"Our model is to invest into companies with a portfolio of assets," he
said in an interview on the sidelines of a conference in Hong Kong.
"We're trying to generate private equity returns, not infrastructure
returns."
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