Kolkata: The Future Group will pump in Rs300 crore in Future Ventures India Ltd this year to facilitate acquisitions by the group.
“Future Ventures would act mainly as an investment company for group’s acquisitions. The group has decided to pump in Rs300 crore within 2008,” informed Pankaj Thapar, head, investments and acquisitions, Future Capital Holdings Ltd (FCHL).
Future Ventures India has Rs250-crore funds with it and fresh investment commitment would boost the group’s acquisition capability.
Thapar, however, said “investment by the group and the funds managed by us (FCHL) as advisers will not be clubbed.”
FCHL manages four onshore and offshore funds and the combined investable resources under these funds would be around $1 billion.
“There will be no conflict between our’s and the funds of the clients as investment advisory services. The offshore funds have restrictions and cannot invest in all sectors like retail. The group will look at those opportunities without hurting the interest of clients,” he added.
FCHL’s investments as an adviser have a long-term view of up to 10 years. “As our remuneration, we would get a management fee and we will be eligible for success fees if the funds make a profit,” FCHL chairman Kishore Biyani said.