Tata and Mizuho Forming Private Equity Fund

(Reuters) – Tata Capital, a unit of diversified Indian conglomerate Tata Group, said on Tuesday it will set up a private equity fund in Singapore, jointly with Japan’s Mizuho Securities(8606.T).

Further details were not immediately available.

In July, Tata Capital had said it plans to raise $1 billion for private equity funds by December 2011.

Tata Capital’s offerings include consumer and corporate finance, equity research, investment banking and private equity, according to the company’s website.

(Reporting by Pratish Narayanan; editing by Surojit Gupta)