3i Group has closed its Indian infrastructure fund with $1.2 billion in capital commitments.
PRESS RELEASE
3i Group plc (“3i”), a leading global private equity firm, has announced it has raised US$1.2 billion for its 3i India Infrastructure Fund (“the Fund”), exceeding the US$1 billion target by 20%. The Fund, established to apply the successful investment strategy of 3i's global infrastructure business to the rapidly growing Indian infrastructure market, is managed by 3i's specialist infrastructure investment team based in Mumbai,
In 2007, 3i formed a strategic partnership with the Indian Government-owned India Infrastructure Finance Corporation Limited (IIFCL) to cooperate on financing infrastructure projects in
The 3i India Infrastructure Fund obtained commitments from a high-quality and well-diversified group of 16 limited partners from ten countries across Europe, North America, Asia and the
Targeting around ten investments over the investment period, the Fund's portfolio already includes a US$227 million investment in Adani Power, which is developing a portfolio of power plants across
Michael Queen, Managing Partner and head of 3i's Infrastructure business, commented: “It is a positive endorsement to have received such strong support from such a high-quality global investor base for this Fund, validating the attractiveness of the investment opportunity and the expertise of our investment team. The closure of this Fund significantly above target represents a major milestone for us and will enable projects with a capital value of up to US$5 billion to be completed.”
Anil Ahuja, Managing Director and co-head of 3i's Asian operations, added: “The scale of the opportunity for infrastructure investment in India is tremendous, and our team, which combines long-standing international investment expertise with a deep local presence, is extremely well-positioned to crystallise the strong pipeline for the benefit of India, our investors and other partners. “
“This release is not an offer of 3i Group plc, 3i Infrastructure Limited or 3i India Infrastructure Fund securities for sale in the
About 3i
3i is a world leader in private equity and venture capital. We focus on buyouts, growth capital, venture capital, infrastructure and Quoted Private Equity and invest across Europe, the