Private Equity Wire reported on November 5, 2010 that Ashmore Investment Management has partnered with PTC India to launch Ashmore PTC India Energy Infrastructure Fund.
On November 5, 2010, Private Equity Wire reported that London-based emerging markets asset manager, Ashmore Investment Management Limited, along with its joint venture partner, PTC India Limited, launched the Ashmore PTC India Energy Infrastructure Fund. Ashmore will hold 60% of the equity of the new fund and PTC, one of India’s leading energy sector institutions, will hold the remaining 40%. The new fund will provide equity financing to power projects in India across all energy related sectors. Press reports indicate that the partners have agreed to dilution provisions which would allow additional investors into the fund, with the hopes of growing the fund size to between $750 million and $1 billion. The transaction is expected to close by the end of 2010 or early 2011.
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