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CDC to invest in Indian property
 
  Hedgeweb - MON, JUN 23 2008
Funds & Investment CDC Group, the UK-based private equity fund-of-funds operator, is to invest $250m (£126m) in to three Indian infrastructure and real estate funds, joining a growing list of foreign groups targeting the sectors.

The UK government-backed emerging markets specialist is teaming up with two Indian groups – Kotak and Infrastructure Development Finance – and UK-based Actis, to make its foray into the market.

Private equity investment in India has boomed over the past year, growing nearly threefold to $6.2bn in 2007 compared with a year earlier, according to figures from Thomson Financial.

Under its investment model, CDC adopts a “fund-of-funds” approach, investing in private equity funds that are targeting infrastructure or real estate.

It plans to invest $100m in IDFC’s India infrastructure fund and $100m in the Actis India Real Estate Fund. It will also inject $50m in Kotak India Realty Fund.

 
 
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