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

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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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.