 "Ajit Dayal , Mukund Rajan")
Three former Tata group executives have tied up with asset manager Quantum Advisors to launch a $1-billion environment, social and governance (ESG) fund to invest in listed entities.
The fund will invest $30-50 million in small-to-mid-cap companies for an 8-9 per cent stake. The fund plans to raise the corpus from sovereign wealth funds, pension funds and endowments looking to invest in businesses with this prism.
ESG is a popular theme of investing globally to improve companies’ performance on responsible practices in all three areas, but there are no funds focused on the aspect in India.
The joint venture will
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