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Kochi, July 30

Three foreign private equity funds — the Hong Kong-based AIF Capital, the London-based Gartmore Ltd and the New York-based Siguler Guff — have subscribed to 14 per cent of the paid-up capital of Catholic Syrian Bank. The shares with a face value of Rs 10 were purchased at a premium of Rs 180 per share. Together, they have invested Rs 33.30 crore , which is expected to substantially increase its net worth, a press release from the bank said. AIF Capital is one of the largest Asia-based private equity firms with a pan-Asia investment focus in power, infrastructure and banking. Gartmore Ltd is an independent asset manager with over 30 years experience and over $50 billion under management. Siguler Guff has funds over $4.5 billion under management. —

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