The Principals of VGI DLC announced the launch of Vision Global Investments I, a U.S. $1 billion dollar <?XML:NAMESPACE PREFIX = ST1 />India infrastructure-focused fund. The Fund brings a “force multiplier” to its investors through an experienced and skilled team of U.S.-based investment professionals, and practiced and highly knowledgeable India-based entities SREI Infrastructure Finance Ltd. and Primadona Global Holdings WWL.
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With offices in New York, London, Delhi, and most recently Bahrain, as well as an advisory office in Mumbai, VGI I is the group’s initial offering.
Vision Global Investment’s India Infrastructure Fund I will focus its investments on opportunities that directly contribute to the essential infrastructure improvements needed to support the country’s continued economic growth. The fund is seeking institutional class investors from the U.S., Europe and selectively from the Middle East, Southeast Asia and Japan where there is considerable interest in this asset class.
“From an investment perspective, the current opportunity within India is enormous. The need for responsible private investment in conjunction with the Indian Government’s strong commitment to infrastructure development is essential for India to satisfy the needs of their expanding economy,” said Thomas J. Lynch, Chief Executive Officer of Vision Global Investments, DLC. “By combining our collective years of institutional asset management and direct India investment experience, VGI brings a unique, well-rounded skill set that ensures the highest quality financial and operational execution on portfolio investments. We believe that our ‘hands-on’ and active approach to asset management will produce an unparalleled, well diversified infrastructure portfolio of the highest quality for our investors and partners.”
Infrastructure investment in India is planned to exceed $450 billion by 2012, and is consequently becoming increasingly attractive to global investors. The country’s robust economic growth, size and breadth of arising sector opportunities, much improved business climate and superior risk / return characteristics all contribute towards India’s growing viability as a destination for infrastructure investment. In fact, according to a recent report published in the Economic Times (February 22, 2008), the eight of the world’s top 10 equity infrastructure funds last year [2007] were India focused.
Vision Global’s India Infrastructure Fund I will be managed by a unique team of broadly-experienced and successful investment professionals with specific skills and knowledge in the infrastructure domain. Collectively, the group has over 60 years of relevant investment experience, 18 of which has been spent investing into the Indian economy. This exceptional partnership provides a distinct competitive advantage to the fund and offers investors a “force multiplier” of professional expertise.
This unique three-way partnership combines over 18 years of Worldwide Investment and Risk Management experience of VGI; the Management & Indian Investing experience of Primadona, a group of Indian Management and Investing professionals with over 20 years experience operating large Indian corporations and particular expertise in investing in energy and construction; and the “on-the-ground” experience and global reach of SREI, one of the largest Infrastructure Finance Company in India with verticals in almost all of the sectors and services of advisory, debt syndication, and wet leasing.
The Fund is accepting assets as of May 1, 2008. Its anticipated first closing will occur in the U.S. $300 million range.
Source: Indus Business Journal