ASIA-PACIFIC India’s Infrastructure Development Finance Company is expected to close the first round of commitments worth $500m-$600m in mid-December for a fund being set up with investment from Citigroup and Blackstone.
The move is the first step in a plan by IDFC and its partners to raise a total of $5bn, including debt, for investment in Indian infrastructure in a proposal first conceived a year ago as part of a joint US and Indian effort to develop the neglected sector.
