Enam launches $750m Indian infra fund

Enam Group, an Indian financial advisory firm, is raising a $750m infrastructure fund to invest in sectors including power, ports, roads and airports. While 75% of the fund will be used for new and existing projects in the infrastructure sector, the remaining 25% will be used for unspecified related sectors.

Indian financial services advisory firm, Enam Group, is planning to raise a fund of $750 million to invest across the country’s infrastructure sector, a source close to the company told Infrastructure Investor.

The group’s first private equity fund is likely to target areas such as power, ports, roads and airports, the source said. At least 75 percent of investments from the fund will be made into the infrastructure sector while the remaining 25 percent will be committed to other related sectors.

While company officials declined to give further information on the nature of projects, the source said the fund will be used for both new and existing projects.

According to reports, the fund’s management team comprises senior infrastructure professionals such as Arun Srivastava, former managing director and chief executive of Essar Power; Parvez Umrigar, former managing director and chief executive of Gammon Infrastructure; and Ajay Munot, former executive director of Kalpataru Power Group.