PTC's private equity fund by Sept

Power trading company PTC India today said the proposed private equity fund, a joint venture with UK-based Ashmore Group, would be in place by September.
    
"We have signed a joint venture agreement with Ashmore Group and by September everything would be final," PTC India Chairman and Managing Director T N Thakur said when asked when the proposed PE fund would be finalised.
    
PTC India will hold 40 per cent equity in the PE fund and the remaining participating interest will be with Ashmore. The PE fund will look into investing in power, coal and port projects.
    
"We are looking at investing in power, coal and port projects, power projects would see major chunk of investment from the PE fund as we have been in this (power) in this sector for sometime," Thakur added.
    
He, however, declined to give any financial details of the PE fund. Ashmore Group Plc and its subsidiaries are one of the world's leading emerging market investment managers.
    
PTC India has got the board's approval to form the private equity JV with UK-based Ashmore Group.