By 16 July, 2009

Indian financial services firm JM Financial is looking to launch a private equity infrastructure fund that aims to raise up to $400 million to tap into growing investor demand for the sector, an executive said on Thursday.

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"We are very keen to start an infrastructure-related private equity fund. It could be up to $400 million," Ashith Kampani, managing director of institutional corporate marketing at JM Financial Consultants, told Reuters.

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The private equity fund could be launched later this year or early next year after gauging investor appetite, he said.

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"We are open to putting seed money of between $50 million to $100 million and it may have an onshore as well as offshore tranche," Kampani said.

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Investors have become bullish on the sector as a decisive election result for the Congress-led government has raised hopes it may overhaul the country's poor infrastructure.

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Kampani was in Singapore for a roadshow organised by JM Financial and ICICI Securities, aimed at attracting international investors to finance India's road network.

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Kampani said government projections show road infrastructure alone would require at least $20 billion of investments over the next one year. 

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