| The fund will invest in listed as well as non-listed companies in sectors including transport, telecommunications, energy and power. |
| Phil Garling, head of infrastructure, AMP Capital Services, said the Indian infrastructure sector was under-invested. |
| "With the Indian economy poised to grow 8 per cent this year, there is a huge demand for infrastructure investment," he said. |
| While AMP Life Ltd has committed $30 million, Asian Development Bank has agreed to chip in with $ 15 million. |
| The fund would be tapping Korea, Singapore, the US and a number of European countries for resources, said Krishan Sehgal, chief executive officer, The Infrastructure Fund of India. |
| The first fund, launched in November 1999, achieved an internal rate of return of 37.1 per cent. The turnaround in the equity markets in the last 12-14 months helped the fund more than treble its net asset value from $20 million in January last year to over $75 million by December end. |
| AMP Capital Investors' first fund had a corpus of $50 million and it had invested in several companies including Indraprastha Gas Ltd (IGL), Bharti Tele-Ventures, Tata Teleservices and Gujarat Pipavav Port. |
| It recently completed its first partial exit from IGL. |
| Sehgal said the second fund would focus on ports and shipping companies to begin with. Companies like Maersk India were being considered, he said. |
| The fund was open to invest in airports, electronic media, power generation, distribution and transmission companies, pipelines and even hospitals, he said. |
| Sudipto Mundle, deputy country director, ADB said that the institution's investment in the fund was in line with its commitment to finance commercially viable private sector infrastructure projects. |
| ADB, he said, was also likely to tap the Indian domestic market for raising $ 100 million-equivalent debt in rupees in March this year. |
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