ICICI fund targets investors in Gulf
Jan 23: India's leading private sector bank ICICI has chosen
Dubai for the global launch of a fund that will focus on India's
infrastructure and real estate sectors.
lot of investors from the Gulf are keen on investing in the
country's infrastructure which would need nearly USD 500 billion
in the few years.
Group global private clients unveiled the 'IOPM Infrastructure
and Real Estate Fund', a first of its kind offshore close-ended
thematic fund. ICICI Bank is the sole arranger for the fund,
which would be available for ICICI Bank global private clients
on a private placement basis.
advisors to the fund would be under ICICI Bank's asset management
arm in India, ICICI Prudential Asset Management Co (IPAMC),
headed by ICICI Prudential AMC Chief Investment Officer Nilesh
the fund in Dubai, Ashish Kehair, head - products and strategy,
global private clients, ICICI Group, said infrastructure and
real estate are two of the most promising sectors in the Indian
a staggering USD 500 billion planned investment in infrastructure
sector in the next four years, and USD 50 billion investments
in the real estate sector in the next three years, these two
sectors will together propel the Indian economy into a different
stratosphere and ensure double-digit GDP growth," he
believe this fund presents the opportunity to participate
in the Indian growth story and further capture the high growth
rate in infrastructure & real estate sector. The fund
will invest directly into listed equity related securities
of Indian industries from the infrastructure and real estate
sectors," he added.