SBI in pact with Oman's SGRF, to invest $50 mn in Oman-India fund

SGRF to infuse $150 mn; OIJIF Fund II is targeting a corpus of $300 million by 2017-end

State General Reserve Fund of Oman (SGRF), a Sovereign Wealth Fund and the State Bank of India will infuse $150 million and $50 million respectively in private equity fund Oman India Joint Investment Fund (OIJIF).

A senior SBI executive said the bank is backing the private equity fund for its second offering (Fund II). This decision is driven by the performance in the first fund and capital requirement for mid-size companies in the country.

OIJIF, a mid-market India focussed private equity fund, has announced the first close for its second fund OIJIF Fund II, at $220 million. In addition to SBI