Australian securities firm Macquarie Group Ltd., (MQBKY.PK) and state owned State Bank of India plan to raise $2 billion to invest in direct infrastructure opportunities in India. They join other global banks, including Citigroup Inc., JPMorgan Chase & Co., ICICI Bank Ltd., and the London-based 3i Group Plc in planning to raise funds for investment in India's infrastructure. Macquarie and SBI signed a memorandum of understanding to set up a company and manage the proposed fund. Macquarie, SBI and The International Finance Corporation as one of the cornerstone investor have planned to contribute a total of $450 million to start the fund. The fund, which is expected to launch by the end of June, intends to provide equity and equity-like capital for investments in roads, ports, airports and power. It will also look at investment opportunities in infrastructure-related assets and businesses. The fund will also raise further capital from both domestic and international institutional investors.   more »