IDFC Private Equity to fund higher education project

Bangalore, July 12 (UNI) IDFC Private Equity is in the final stages of closing a funding to a centre of higher education, expanding its scope of financing infrastructure projects such as airports and ports, besides healthcare.

Company President and CEO Luis Miranda told UNI here that the funding was likely to be finalised in about a month's time. However, he did not disclose the name of the institution and the quantum of funding.

The company had also recently funded an amusement park in New Delhi, being developed by Unitech, he added.

He said that out of the US dollars 630 million funding received by the two funds managed by it, 330 million dollars had been committed. In Bangalore, it had funded three projects -- Rs 50 crore announced today for the Healthcare Global Enterprises, Rs 90 crore for Manipal Health Systems, besides the GMR Group.

IDFC Private Equity was India's largest and most active private equity fund focused on infrastructure. The two funds managed by it were the India Development Fund, amounting to US dollars 190 million, and IDFC Private Equity Fund II of US dollars 440 million.

It was set up in 2002 as a 100 per cent subsidiary of IDFC.

Some of the portfolio companies included Gujarat State Petronet, Hotel Leelaventure, Chalet Hotels, Gujarat Pipavav Port, Delhi International Airport and L and T infrastrucutre development projects.

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