PRINT THIS PAGE 3i closes $1.2bn infrastructure fund for India16/04/2008. Source: AltAssets. 
3i Group has closed its 3i India Infrastructure Fund on $1.2bn, above its $1bn target. The fund held a first closing on $500m in September 2006. 3i India Infrastructure Fund will be managed by 3i's infrastructure investment team, which is based across the firm's Mumbai, Delhi, London, New York, Frankfurt and Singapore offices.
Commitments to the new fund came from16 limited partners from ten countries across Europe, North America, Asia and the Middle East. 3i Infrastructure and 3i are the largest investors in the fund, each committing $250m.
3i plans to make about ten investments from its 3i India Infrastructure Fund. The fund's portfolio already includes a $227m investment in Adani Power, which is developing a portfolio of power plants across India, and a $101m investment in Soma Enterprise, an infrastructure developer focussing on build-operate-transfer (BOT) projects.
Anil Ahuja, managing director and co-head of 3i's Asian operations, said, 'The scale of the opportunity for infrastructure investment in India is tremendous, and our team, which combines long-standing international investment expertise with a deep local presence, is extremely well-positioned to crystallise the strong pipeline for the benefit of India, our investors and other partners.' Ahuja joined the 3i team in 2005.
3i invests across Europe, the US and Asia. The firm opened its Mumbai office in 2005.
3i formed a strategic partnership with the Indian government-owned India
Infrastructure Finance Corporation Limited in 2007. IIFCL provides debt financing for 3i projects in India, primarily in the power, ports, logistics, airports and road segments.
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