Delhi MCD Election Results 2017

Source: media reports

US firm in talks with PFC to sell stake in $12-bn fund

US firm in talks with PFC to sell stake in $12-bn fund
Comment E-mail Print Share
First Published: Sun, Feb 17 2008. 01 33 PM IST
Updated: Sun, Feb 17 2008. 01 33 PM IST
PTI
New Delhi: US-based private equity firm Clear Trade is in talks with five entities including PFC to sell up to 25% stake in its newly-launched $12 billion India-focused power and infrastructure fund.
Clear Investments Power Infrastructure Fund, which starts with an initial corpus of $1 billion, would invest in the country’s upcoming power and infrastructure projects.
According to Clear Trade CEO Palak Jain, the firm is in talks with five entities including Power Finance Corp, Morgan Stanley and Axis Bank-promoted Axis Private Equity to dilute up to 25% in the fund.
Apart from Jain, the fund would be promoted by Clear Trade Managing Director Deepak Kavadia and Philip Ho, managing director of US-based private equity fund Cornell Capital.
“We plan to liquidate 25% stake in the fund to two of the five entities,” she told PTI over phone.
She said the fund, which proposes to participate in projects related to power, airports, bridges and hospitality, would begin operations from 1 April.
“There is a huge need of capital in power and infrastructure segments in India. There lies a big opportunity in the segment which is growing at an exponential rate,” she said.
Clear Investments Power Infrastructure Fund has already identified 11 power projects — of which eight would be run on coal, two hydro and one on agro-waste.
Without disclosing the names of the projects, Jain said that all of them are above 1,000 MW in capacity.
Comment E-mail Print Share
First Published: Sun, Feb 17 2008. 01 33 PM IST