A new infrastructure fund would be launched jointly by Standard Chartered Private Equity and IL&FS Investment Managers with a corpus of around $600 million.
This is the second fund being launched jointly by both the firms. The new fund may consider investing in Middle East nations besides investing in Indian projects.
The new fund may approach investors of the existing fund for mopping up capital and it is expected to close within a year. In 2008, both the firms raised a $658 million through the Standard Chartered IL&FS Asia Infrastructure Growth Fund.
It was a pan-Asia fund with a special focus on investment in India and China. It has invested in IL&FS Transportation Networks and Malakoff Corporation Bhd, among others.
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