UTI Sets Up Infrastructure Fund-of-Funds

MUMBAI (Reuters) – India’s UTI Asset Management Company has set up a private equity fund worth $500 million in partnership with Germany’s HSH Nordbank [HSH.UL] and Kuwait’s Noor Financial Investment Company, the firm said on Thursday.

The fund will mainly tap offshore clients and invest in unlisted infrastructure firms engaged in sectors such as roads, ports, power, logistics, airports and energy among others, the money manager said in a statement. (Reporting by Nishant Kumar; Editing by John Mair)