Global financial services major Citigroup is in talks with the Indian government to start a $5 bn debt and equity infrastructure fund in partnership with Infrastructure Development Finance Company (IDFC). Blackstone had also proposed a fund for infrastructure in India, the size of which is not known. Citigroup has proposed a total fund of $5 bn, of which $2 bn is intended to be equity and $3 bn for debt. Citigroup would operate the fund in association with IDFC. Citigroup CEO Charles Prince had proposed the fund at a meeting with Finance Minister P Chidambaram in New York earlier this year.
More details on The Economic Times.
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