State Bank of India (SBI) and Macquarie Group Ltd (MQG) announced the launch Macquarie- SBI Infrastructure Fund (MSIF) which will invest in infrastructure projects in India.
SBI and Marquarie bring in a unique combination of local and international expertise to the joint venture. SBI is the largest project financer in Asia and the largest lender in India with deep knowledge of the country’s infrastructure sector. Macquarie is a leading owner and operator of infrastructure assets globally and brings to the venture its expertise in financing, development and operation of infrastructure assets.
Investments will be made in traditional infrastructure assets that generate long term identifiable cash flows. These include roads, sea ports, airports, power generation, transmission and distributions, gas distribution, telecommunications and logistics businesses. Investments will include green field projects as well as established operating businesses.
Mr R Sridharan, Managing Director of SBI said “As per the Planning Commission of India estimates, the country will need close to US$500 million in infrastructure investments in the next 5 years. Funding of this magnitude cannot be supported domestically alone and must be supplemented by other sources of capital” .
Mr Nick van Gelder, head of Macquarie Capital Funds in Asia said “ This joint venture provides unparalleled access for international and domestic investors to the underlying economic growth story of developing India.
Tags: Macquarie, MQG, New Infrastructure Fund, New product
