JPMorgan Asset Management and Religare Invesco Asset Management are planning to raise Europe-focused private equity funds.
The two firms separately filed with Indian regulators to start funds of funds focused on Europe, according to Reuters.
JPMorgan’s vehicle will invests into units of JPMorgan Funds, Europe Dynamic Fund, which currently had $332.7m under management at the end of September.
Religare;’s fund will target the units of Invesco Pan European Equity Fund, which has just over $2bn under management.
The report noted that Indian funds investing outside of the country have seen their assets under management increase more than 10 per cent this year, according to the Association of Mutual Funds in India.
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