KFI concludes 0m Indian PE Fund

Dubai, Apr 25: Bahrain-based Khaleej Finance and Investment (KFI) and its regional partners have announced the successful conclusion of its Shariah-compliant Indian Private Equity (PE) Fund worth 200 million dollars.

India's leading private bank, ICICI Bank Ltd, has been named financing partner for the PE fund.

KFI has also named the bank's subsidiaries ICICI Securities and ICICI Home Finance as its private equity adviser and real estate adviser, respectively.

The fund is allocated to two main portfolios 50 per cent real estate and development and 50 per cent private equity, company officials said.

The fund attracted interest from many institutional as well as individual investors, both regionally and internationally.

KFI's interest in India began as part of a study initiated by its research department that highlighted India's potential in terms of its investment opportunities and further growth.

The Indian PE Fund was structured to allow KFI's investors' entrance into the Indian private equity market.

UNI