Saturday, 25 April 2015
Last updated 15 hours ago
Aug 27 2007 | 11:59am ET
Private equity and venture capital firm 3i Group is establishing a new fund that will invest in Indian infrastructure. The new offering, the 3i India Infrastructure Fund, intends to build a balanced portfolio of infrastructure investments in India, has a target size of US$1 billion and will be unlisted. The fund will invest primarily in power, ports, airports and road projects in early-stage and mature infrastructure operations.
The fund is being established within the framework of the strategic partnership agreement announced by 3i and the India Infrastructure Finance Company Limited in April. According to the firm, 3i’s own network and its strategic partnership with IIFCL will give the fund access to a strong pipeline of attractive investment opportunities.
3i intends to invest a minimum of US$250 million in the fund.
India is among the fastest growing economies in the world. The Government of India now estimates that investment in infrastructure will need to increase from 3.5% of GDP at present to 8% of GDP in 2012 and anticipates around US$320 billion in infrastructure investment over the next five years.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…