Macquarie/SBI plan $2 billion Indian infrastructure fund

Macquarie, SBI and the International Finance Corporation, as a cornerstone investor, plan to contribute a total of $450 million to start the fund, which is expected to launch by the end of June.

Macquarie Capital Group and State Bank of India SBI plan to raise a new $2 billion fund that will invest in direct infrastructure investment opportunities in India.

Macquarie and SBI have signed a memorandum of understanding to set up a company and manage the proposed fund. The International Finance Corporation IFC, as one of the fundÆs cornerstone investors, will also have a stake in the proposed company.

Macquarie, SBI and the IFC together plan to contribute a total $450...

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