Financial Daily from THE HINDU group of publications
Wednesday, Mar 22, 2006
Financial Daily from THE HINDU group of publications Wednesday, Mar 22, 2006 |
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Markets
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Foreign Institutional Investors Sabre, Abraaj set up $250-m fund for Indian investments Our Bureau
Mumbai , March 21 Sabre Capital Worldwide Group has set up a private equity fund in partnership with a Dubai-based private equity firm, Abraaj Capital. The Sabre Abraaj Private Equity Fund will initially have a corpus in excess of $250 million and will primarily invest in Indian companies with high growth potential, according to a company release. Mr Rana Talwar, Chairman of Sabre Capital, will be the Chairman of the private equity fund. "Over the last few years we have built strong expertise in identifying Indian companies that have extremely robust business models and strong growth prospects," Mr Talwar was quoted as saying in the release. "This venture reinforces our conviction in the India growth story and we believe there are a large number of companies across sectors that have the potential to become industry leaders. We will offer these companies capital and a knowledgeable and trusting partner, and provide access to international markets and management talent." Through this venture, an India-specific fund has been launched that will invest in the growth story that is India, according to Mr Arif Naqvi, CEO and Executive Vice-Chairman, Abraaj Capital. The funds will be raised through institutional investors from West Asia, Europe, and Asia. It will invest in Indian companies that have strong growth prospects across different sectors such as retail, BPO, IT, auto ancillaries, life sciences, leisure and travel, entertainment, and healthcare, the release said.
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