Macquarie targets $1b fund for South, Southeast Asia - report
Macquarie Capital is said to be targeting $1.1 billion for its new fund focusing on South and Southeast Asia.
According to The Economic Times, part of the corpus is likely to be deployed in Indian infrastructure. The Australian firm, which manages $353 billion in assets globally, previously partnered with the State Bank of India (SBI) to set up the Macquarie SBI infrastructure fund with had its final close in March 2011 at $1.17 billion, below its $3 billion original target.
The venture was expected to float its second fund in the first quarter of 2012 to invest in infrastructure assets and companies but plans were shelved.
The new Macquarie fund will be registered in Singapore and consider investment opportunities in Sri Lanka and Southeast Asia as well as India. The Indian government is targeting around $1 trillion of investment into infrastructure over the next five years.
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