Morgan Stanley’s India-focused infra fund raises additional $104m

Photo: Pixabay

North Haven India Infrastructure Fund, an India-focused infrastructure fund managed by investment firm Morgan Stanley, has secured additional $104.25 million in capital commitments, per its latest filings with the US Securities and Exchange Commission (SEC).

Morgan Stanley reportedly seeks to raise $750 million in total committed capital for its maiden India infrastructure fund.

The firm had raised close to $300 million in commitments for the fund by June last year, Mint had reported. In October, DEALSTREETASIA reported that Alaska Permanent Fund Corporation (APFC) committed $50 million to North Haven India Infrastructure Fund.

In a disclosure, the Asian Infrastructure Investment Bank (AIIB) had said that it will commit up to $150 million to the fund, but not more than 20 per cent of the total committed capital.

The fund aims to make private equity investments in a number of sectors, including energy and utilities, transportation and logistics, telecommunications, broadband, urban public-private partnership projects, healthcare and education, among others.

Infrastructure spending in the country has accelerated over the years, and a couple of large global investors have launched India-dedicated infrastructure funds.

In March, Business Standard reported that Dutch pension fund manager APG Asset Management and Ajay Piramal-controlled Piramal Enterprises are planning to raise a second fund of about $500 million to invest in infrastructure projects in India. For the first fund, the two entities had announced a joint corpus of $750 million in 2014, most of which has already been invested.

In December, Mint reported that US-based investment firm Global Infrastructure Partners (GIP) is looking to raise an India-focused fund this year, besides investing in buyout opportunities. The New York-based fund manager had bought the infrastructure investment business of IDFC Alternatives Ltd in April last year.

Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) in June said that it will invest $200 million in India’s National Investment and Infrastructure Fund (NIIF).

In May last year, financial services group Edelweiss said it had achieved the targeted base offering size of Rs2,000 crore for its infrastructure sector-focused fund—Edelweiss Infrastructure Yield Plus Fund.