The State Bank of India and Macquarie have appointed Varun Bajpai and Praveen Gupta to senior management positions in their soon-to-be-established India infrastructure fund.
Tag : sbi
The joint fund has an initial commitment of $60 million and will focus on financial institutions outside of Japan.
Macquarie, SBI and the International Finance Corporation, as a cornerstone investor, plan to contribute a total of $450 million to start the fund, which is expected to launch by the end of June.
Softbank Investment and India's SBI Capital Markets to launch a $100 million India-focused venture capital fund.
Firms buck trend away from joint ventures between foreign and local firms.
SG Asset Management strikes a JV with State Bank of India Fund Management.