India Infoline to launch trio of private equity, venture, hedge funds


Indian financial services provider India Infoline has been given permission to launch a trio of investment funds by the country’s securities and exchange board.

The firm plans to launch IIFL Private Equity Fund, IIFL Venture Fund and IIFL Opportunities Fund, taking the tally of Alternative Investment Funds (AIF) registered with the Securities and Exchange Board of India to 12.

IIFL already runs a host of financial products including equity and derivates, commodities, wealth management and insurance.

SEBI introduces AIFs in May with the mission of helping firms establish fund in India to pool Indian and foreign capital for investment.

US buyout giant Carlyle bought a nine per cent stake in IIFL 12 months ago through a secondary market purchase of equity shares valued at $38m.

The company has a network of more than 3,000 locations across 500 towns and cities in India.

Carlyle managing director Devinjit Singh said at the time, “We look forward to supporting the company’s growth plans including expansion of their financing and international businesses.”

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