IL&FS Investment Managers is considering raising a fund to invest in India’s overstretched city and social infrastructure in 2010, the head of the country’s oldest private equity firm said on Thursday.
Archana Hingorani, who manages $2.5 billion, said the key ingredients for the development of core infrastructure such as highways, ports and power plants were in place but water, sewage, healthcare and roads in cities were crumbling.
“We could look at a fund for city infrastructure sector, may be in 2010. We are very clear there are opportunities, but have we structured a potential fund for it? Not yet,” she said told Reuters in an interview.
The urban and social infrastructure fund would be feasible to start at around $200 million, Hingorani said.
The firm also hopes to raise another $200 million for an Asia infrastructure fund it runs with Standard Chartered by September to take the size to $800 million, she said.
IL&FS, which manages seven funds including two real estate funds worth $1.4 billion, also plans to launch funds in 2010 as most of the money would have been committed, she said.
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