Asian Genco raises $425 million from investor consortium

Asian Genco, a Singapore-based infrastructure company with investments in Indian power generation assets and engineering services businesses, has raised $425 million from a consortium of investors led by Morgan Stanley Infrastructure Partners MSIP. Also included in the consortium are General Atlantic, Goldman Sachs, Norwest Venture Partners, Everstone Capital and others.

The investors have not disclosed any details of the valuation at which they have invested so information on what percentage of the equity the $425 million represents is not available. Each investor has come in as an equal, said a source close to the transaction, with pari passu board representation and other rights.

Asian Genco is developing a portfolio of hydro, thermal and non-conventional...