INDIA BUSINESS WORLD - NOVEMBER 16th - NOVEMBER 30th
- 2007
OLD LANE INVESTS $26 M IN KVK ENERGY AND INFRASTRUCTURE
Old Lane Mauritius III, an investment arm of Old Lane India Opportunities Funds, has invested $26 million in Hyderabad-based KVK Energy and infrastructure. The investments from Old Lane will mainly be used to fund KVK Energy's projects.
"Funds from Old Lane will help our company grow and will also help in diversifying the portfolio of assets. In the long run it will help us in the listing of the company at the bourses to raise resources," said KVK Energy and Infrastructure chairman K Vijaya Kumar.
A venture of the KVK Group, KVK Energy and Infrastructure was formed to consolidate the group's power generation and infrastructure portfolio under one umbrella.
Old Lane was founded by Vikram Pandit, John Havens and Guru Ramakrishnan, formerly with Morgan Stanley. Ramakrishnan is the chairman of the Indian investment committee. It is a global investment banking and financial services firm.
The fund is upbeat on the Indian infrastructure sector and has tied up with IDFC for investing in this sector. They have together invested around $15 million in the Larsen & Toubro Infrastructure Development Projects (L&T-IDPL). Old Lane has also partnered with JM Financial to raise a $150-200 million India fund.
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