IDFC Alternatives Limited’s second India Infrastructure Fund fully subscribed at Rs.5500 crore
IDFC Alternatives Limited has announced the final closing for India Infrastructure Fund II (“IIF II”) at its hard cap of Rs.5,500 crore or $900 million, says a press release issued by the company. This includes a commitment of $90 million from its parent IDFC Limited and remaining $810 million from third party Limited Partners (“LPs”).
The press release says, “In addition to the above commitments to the fund, investors have also pledged significant additional capital towards co-investment opportunities. Investors in IIF II include global institutional investors from North America, Europe and the Middle East.”
In the press release, MK Sinha, Managing Partner & CEO, IDFC Alternatives said "we are very pleased with the high quality and marquee investors that IIF II has attracted and are proud of the speed with which IIF II has been subscribed to, especially given the difficult economic and financial conditions that prevailed during the majority of our fund-raising period. We are thankful to the existing investors in our first fund who have re-upped commitments to the second fund and the new investors including some of the largest global institutional investors for having placed their faith in IDFC as their infrastructure fund manager of choice and in India’s potential as an attractive investment opportunity in the infrastructure space."
