Axis Private Equity, the PE arm of Axis Bank, has raised a Rs 600-crore infrastructure fund. IDFC Private Equity, another major, had on Tuesday announced its intention to raise a $700-million fund for the sector. According to sources familiar with the matter, Axis Private Equity is already in the process of finalising four deals related to the infrastructure sector. “Of its targeted corpus of Rs 2,000 crore, Axis PE has closed its first fund — Axis Infrastructure Fund 1 — by raising Rs 600 crore,” said a person involved in the development. The PE has already identified four investment targets, he added. When contacted, Axis PE chief executive officer and MD Alok Gupta declined to comment. Axis PE raised Rs 600 crore within a period of five to six months from its launch, the tight liquidity conditions notwithstanding. Apart from pension funds, investors in the fund also include sophisticated domestic and international banks and corporates. The Axis Infrastructure Fund has an anchor investment of Rs 200 crore from Axis Bank — the erstwhile UTI Bank — while the rest is being raised from outside.   more »