Blackstone & Citigroup Team on Indian Infrastructure Fund

The Blackstone Group and Citigroup have committed a combined $250 million toward the formation of a new Indian infrastructure fund, which will focus on such projects like roads, power, airports, ports, and industrial and commercial infrastructure. The entire vehicle is targeted at $5 billion, which will include $2 billion in equity and $3 billion in long-term debt financing. India's Infrastructure Development Finance Co. will manage the equity, while the debt will be managed by India's Infrastructure Finance Co.