Monday, April 9, 2007

Macquarie Bank planning a $1 bn India infrastructure fund

Australia-based Macquarie Bank is setting up a $1 bn India-centric infrastructure fund. Macquarie is one of the largest managers of infrastructure funds in the world, and manages infrastructure assets worth $22 bn worldwide. It is likely to set up the fund through its infrastructure subsidiary, Macquarie Infrastructure Group (MIG). Though the bank is yet to make a formal announcement regarding the fund, it has reportedly already started evaluating deals and projects.

Macquarie is the second global financial services provider looking at an India-dedicated infrastructure fund. The first has been announced by Citigroup which is rolling out a dedicated infrastructure fund in partnership with IDFC and the backing of the Ministry of Finance.

Macquarie Bank started its Indian operations in 2005 and is currently focusing on its securities and research business. The proposed fund would mark its foray in asset management in India. While Macquarie’s infrastructure funds are listed on the Australian Stock Exchange, its proposed India-based entity may not list on the Indian bourses. The company recently started its infrastructure funds in Singapore and Korea both of which are listed on the local bourses.

Read more in The Economic Times article.
Related Post:
Citigroup, Blackstone, IDFC, IIFC tie-up for $5bn India Infrastructure Financing Initiative fund

No comments: