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Report: Reliance, DE Shaw to launch $800m infra fund

The Indian energy firm is reportedly in talks with New York hedge fund DE Shaw to launch an $800m infrastructure fund.

Indian energy firm Reliance Industries is discussing the possibility of launching an $800 million infrastructure fund together with New York-based hedge fund DE Shaw, local media reports suggest.

Officials from DE Shaw’s global headquarters met Mukesh Ambani, Reliance’s chairman, last week to discuss the details of the alliance, according to news reports. Not much is known yet about the joint venture but reports suggest that both companies are looking into areas such as carbon trading.

Controlled by billionaire Mukesh Ambani, Reliance Industries is listed on the Bombay and London stock exchange.

DE Shaw is a $30 billion New York-based hedge fund that has invested over $2 billion in India in education, media, outsourcing, real estate, renewable energy and infrastructure. The hedge fund has managed to make over 30 percent returns from its Indian portfolio, local media reported.