Mumbai-based construction and engineering firm, Larsen & Turbo is planning to launch a US$300 million private equity fund to invest in power and road projects in India, Bloomberg reported.
Quoting the company’s Senior Vice President for Financial Services N Sivaraman, the newswire said the infrastructure major will invest this fund in companies outside L&T.
The firm is leaned to be looking for a Singapore-based partner to invest in the fund besides putting in some money from its own. “It’s far easier to manage money for auditing purposes if we can put it through a trust or fund structure,” Sivaraman reported to have said.
Source: Construction Week Online