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Tata Capital raises $800 million for various funds

Tata Capital raises $800 million for various funds
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First Published: Wed, May 11 2011. 06 09 PM IST
Updated: Wed, May 11 2011. 06 09 PM IST
New Delhi: Tata Capital Ltd, part of the $67.4 billion Tata Group, said on Wednesday that it has successfully got commitments worth $800 million for its family of five funds from both overseas and domestic institutional investors.
It expects to complete the entire $1 billion fund-raising exercise by the end of 2011 as originally scheduled, managing director and chief executive Praveen Kadle said at a briefing.
Almost 40% of the funding so far has come from Japanese institutional investors and the rest from Southeast Asia, Europe and India, he said. The capital raised will go towards the Tata Capital Growth Fund, the Tata Opportunities Fund and other funds that it did not name.
Tata Capital has already made investments in six companies worth $150 million collectively and will complete the remaining investments in the next three to five years.
It will look to invest in sectors as diverse as design and engineering services, health care, education, manufacturing and auto components, logistics support and low-cost housing across various stages.
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First Published: Wed, May 11 2011. 06 09 PM IST