Franklin Templeton, the global financial powerhouse, has raised an India-focused, Rs 600-crore private equity (PE) fund. The fund is unique as it has been almost entirely raised from HNIs (high networth individuals) in India within two months flat. This is an indication of where HNIs are parking their money in a bearish stock market, where companies are struggling to pull their IPOs through. The fund, Franklin Templeton Private Equity Strategy, will focus on investing in unlisted companies in infrastructure services, manufacturing and consumer-driven sectors. While the company did not comment on the corpus of the fund, Vivek Kudva, president, Franklin Templeton Investments (India), said: "We had launched Franklin Templeton Private Equity Strategy in April for Indian investors, focusing on unlisted companies in infrastructure services, manufacturing and consumer-driven sectors."   more »