Frontline Strategy launches 200 mln usd equity fund for smaller Indian cos |
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Published
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Wed, 28 Nov 2007 09:45
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MUMBAI (Thomson Financial) - Mauritius-based asset management firm Frontline Strategy Ltd said it has launched a 200 mln usd fund that will make equity investments in Indian small- and medium-sized enterprises.The India Industrial Growth Fund (IIGF) will invest in India's SMEs, with each investment likely to be in the range of 10-12 mln usd.'We are confident about India's SME companies, as they are much more competitive now and are globally benchmarked on cost and management practices fronts. We will focus on the power and infrastructure sectors and have lined up a few SMEs for immediate investments,' said founder partner Atim Kabra.He did not disclose details of the planned investments.Frontline said the fund's broad investment targets will be in the early stages of private equity investment, primarily in the industrial area, with approximate revenues between 200 mln rupees and 1 bln rupees.Private asset management firm Fabiani Family Investment Office is a partner in the fund.Please write your own byline and save in your preferenceskbo/ran/tcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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