Economy

​Foundation Holdings to invest $275 million in India

Our Bureau Mumbai | Updated on January 15, 2018

A team of six business families have come together to set up a new global investment firm Foundation Holdings, which will invest about $275 million across various sectors in India. This is 50 per cent of the firm’s total planned investment of $550 million across the globe.

The firm will invest in healthcare, education and consumer sectors. Apart from India, the firm will invest across Gulf Corporation Council (GCC) countries, the company said in a statement.

Abhishek Sharma, founder of Dubai-listed investment company Amanat Holdings and a former financial analyst at Bank of America Merrill Lynch and Lehman Brothers, will be the chief executive officer of the new firm.

“We strongly believe the healthcare, education and consumer sectors will drive human capital, innovation and transformational opportunities for today’s youth across India and the GCC. The majority of planned investments are also in partnership with family businesses who account for 70-80 per cent of all large businesses in India,” said Abhishek Sharma said.

On the board of Foundation Holdings are Murthada Sultan as chairman, a veteran businessman, while directors include Adel Ali, Founder and CEO, Air Arabia; Neelesh Bhatnagar, Managing Director of NB Ventures; Justin Connor, Managing Director of New York’s Rothschild Capital Partners and Karim Merchant, CEO and Managing Director of Pure Gold Jewellers.

The $550 million corpus is being raised from the family offices of the directors.

rajesh.kurup@thehindu.co.in

Published on November 09, 2016

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