Approval to set up an Alternative Investment Fund Category I and for receiving contributions from international investors

The Cabinet Committee on Economic Affairs has approved the proposal of M/s IDFC Trustee Company Limited to set up the India Infrastructure Fund II, to be registered as the Alternative Investment Fund (AIF) Category I with the Securities and Exchange Board of India (SEBI) as recommended by the Foreign Investment Promotion Board (FIPB).

The Indian Infrastructure Fund II is aimed at making investment primarily in the sectors of energy utilities, transportation, aviation, telecom infrastructure, other urban infrastructure and public utilities. The fund is targeted to receive contribution from international investors up to Rs. 5500 crore.