Jain leaves IIF
Ajay Jain, one of the founding principals at IDFC Project Equity's $927 million India Infrastructure Fund, is leaving the firm to head the Indian infrastructure initiative of an unnamed US company.
Jain originally joined IDFC Project Equity in 2006 for the launch of the new fund, successfully warehousing some $80 million of assets for it, as well as working on fundraising, chiefly with US investors. Prior to this, he was an Assistant Portfolio Manager at Ontario Teachers Pension Plan in its Global Infrastructure Investment Group, and previously also worked in corporate finance and M&A in India with firms like DSP Merrill Lynch, Ernst & Young and Lazard. "As one of the founder members of IIF, I take pride in having played a key role in successfully introducing the infrastructure equity investment as a separate asset class for the first time in India," Jain said.
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