3i, a global private equity investor, has raised Rs 4,800 crore ($1.2 billion) India-focussed infrastructure fund called '3i India Infrastructure Fund', it will invest in core sector companies and projects.3i has raised 20% more than its target of $1 billion for the fund.The Fund has obtained commitments from 16 partners of ten countries across Europe, North America, Asia and the Middle East.FTSE-listed 3i Infrastructure and 3i are the largest investors, each committing $250 million to the fund, a announcement from the fund said today.Targeting around ten investments over the investment period, the fund's has invested $227 million (nearly Rs 908 crore as of today) in Adani Power, and $101 million (nearly Rs 400 crore) in Soma Enterprise, which developd infra projects build-operate-transfer (BOT) projects.In 2007, 3i formed a strategic partnership with the Infrastructure Finance Corporation (IIFCL) to finance infrastructure projects in India.Michael Queen, managing partner and head of 3i's Infrastructure business, said "It is a positive endorsement to have received such strong support from such a high-quality global investor base for this Fund. The closure of this fund significantly above target represents a major milestone for us and will enable projects with a capital value of up to $5 billion to be completed."
