UK government-backed private equity emerging markets fund of funds manager CDC Group has made new commitments totalling $250m to three funds focused on infrastructure and real estate investment in India.
The funds are expected to raise a total of $1.6bn for investment.
CDC has committed $100m to both the IDFC India Infrastructure Fund and the Actis India Real Estate Fund. The IDFC fund will invest between $15m and $75m in infrastructure projects in the energy, transportation and telecoms sectors. The fund will be managed by IDFC Project Equity, a newly established subsidiary of IDFC.
Actis' fund will make investments of $15m to $25m in lower middle-income residential, healthcare, hospitality, and commercial real estate in and around large cities in India. The fund is Actis's first real estate fund for India.
CDC has also committed $50m to Kotak India Realty Fund, a fund focused on real estate projects and companies in India.
Source: Alt Assets