Nomura postpones India infrastructure fund - sources

Two sources told LiveMint that the firm has not yet started speaking to potential LPs - which were to be predominantly Japanese - despite having planned to go to roadshows in October. "The plan has not been shelved completely. It is dependent on the market conditions," said one.

Nomura was said to have assigned responsibility for managing the vehicle to three of its senior executives.

"There is a lack of historical performance and no great returns have been delivered. Therefore, the LPs are a lot more cautious at this stage," commented Abhay Pandey, managing director of Sequoia Capital India.

This news comes after Vikas Sharma, country head for India, said last July that the fund would launch in September, given that India requires vast amounts of capital for infrastructure projects over the next ten years.

Infrastructure-focused private equity funds raised $5.4 billion from investors last year - 40% less than in 2007, according to research by Venture Intelligence. Seven funds raised $8.8 billion in 2007.

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• Topics
• South Asia
• Infrastructure
• Infrastructure
• Infrastructure India
• Nomura Principal Finance
• Fundraising