3i Group Plans $1.5 Billion India Infrastructure Fund

British buyout shop 3i Group is planning a $1.5 billion India fund for infrastructure investments in sectors such as power and roadways, Reuters reported. The firm in 2008 launched a $1.2 billion fund for similar infrastructure investment in India. That fund is now 80% invested, Reuters said.

(Reuters) – British private equity firm 3i Group Plc plans to launch a $1.5 billion infrastructure fund for India next year, its chief executive said on Thursday, as it looks to boost its investments in sectors such as power, ports and roads.

“On the infrastructure side, India is the only country in the world where we have a dedicated country fund because the sheer growth opportunity here is more than anywhere else,” Michael Queen told Reuters in an interview.

“For an organisation like us, or other infrastructure investors, it looks like a very, very attractive market,” he said on the sidelines of a private equity conference in Mumbai.

3i had launched in 2008 a $1.2 billion fund for investment in infrastructure companies in India, and Queen said the private equity group has already invested about 80 percent of that fund. (Reporting by Sumeet Chatterjee)