IL&FS, Standard Chartered target $600m infrastructure fund


Asia-focused IL&FS Investment Managers and Standard Chartered Private Equity are targeting an INR 3,344 crore ($600m) fundraise for their latest infrastructure investment fund, LiveMint has reported.

The new fund will look to invest outside of Asia, to take advantage of infrastructure growth in the Middle East. It is looking to close within the year, the report said.

The pair previously garnered $658m for the Standard Chartered IL&FS Asia Infrastructure Growth Fund in 2008. The fund invested predominantly in India and China, with notable deals including IL&FS Transportation Networks and Malakoff Corporation.

“While we expect to have a significant amount of focus on raising funds in the infrastructure space, we will not be able to comment on specific details of our plans as it is too premature,” said IL&FS chief executive Archana Hingorani in the report.

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