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Punjab National Bank to launch private equity fund20/08/2003. Source: AltAssets. 
 The Punjab National Bank and Infrastructure Leasing and Financial Services (IL&FS) are to launch a private equity fund that will invest in domestic companies. The Leverage India Fund will target the country's telecom, oil and gas, ports, water supply and surface transport sectors.
The fund will invest in between 15 and 20 companies with successful track records of stable and consistent cash flows and will be manged by the venture capital subsidiary of IL&FS. The fund intends to focus on sectors in which India has a ‘global competitive advantage.'
The fund aims to address the ‘varying risk appetites of investors' by accepting both equity and mezzanine commitments, according to the India Financial Express. The mezzanine commitments will have a priority for return of capital and will accrue annual base returns with a cap on the upside.
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