IDFC no longer a fund of funds
IDFC has pulled out of the private equity fund of funds business, which it entered in September 2009 under IDFC Capital. The Singapore-based FoF venture, which was headed by former ADB private equity head, Veronica John, reportedly failed to raise any capital from potential investors toward its $500 million target.
Since its establishment, the f-o-f has made two investments out of the $50 million in seed capital from its former parent. It is unclear what happens to the remainder capital, although the business will...
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