L&T may launch $300mn fund

Larsen & Toubro Ltd (L&T) has plans to launch a private equity fund for making investments in power and road projects in India. The fund will be in the range of $300 million for which L&T may bring their Singapore-based partner.
L&T will do this in order to tap the high growth investment segment, as infrastructure will remain a priority in the country for the next few years. The fund will help L&T to support its activities in infrastructure space that are coming to its fold, including some highway projects in Mumbai.
The announcement also follows some big ticket investments made recently by global private equity giants in the infrastructure space in India which includes the Morgan Stanley-led consortium which has invested $425 million in Asian Genco Pte Ltd (AGPL), which has investments in Indian power generation assets and engineering services businesses.

Source : L&T may launch $300mn fund