Indian conglomerate Tata Group’s private equity arm has reportedly gathered $600m for its debut vehicle targeting the country.
LPs from North America, Asia and the Middle East invested in the Tata Capital fund according to Reuters, which said the vehicle could be one of the largest debuts by a private equity fund targeting India.
It said the LPs could also co-invest directly into a portfolio of companies alongside the fund on a mutually discretionary basis.
Earlier this year it emerged Tata Capital was planning to raise up to INR5bn ($94m) for a special situations fund.
The Tata Capital Special Situations Fund will invest in the equities of distressed businesses and had attracted commitments from five state-backed banks, Bloomberg reported in January.
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