Tata Group's financial services venture, Tata Capital, today said it would foray into the private equity arena with the launch of $350 million fund in the next three to four months.
"We are looking at launching our first private equity fund in the first quarter of the next fiscal. It will be an $350 million kind of fund," Tata Capital Managing Director and CEO Pravin Kadle told reporters here.
The fund would invest mainly in India and not target any specific sector, he said, adding that it would have a diversified investors' base.
It would focus primarily on growth and expansion-equity investments, he said adding that it might selectively consider late-stage venture capital investments and buyouts.
Tata Capital, he said, also plans to venture into the housing loan segment in the next three to four months, aiming to create a good presence in the area.
"I know there is a lot of competition, but the potential is huge. We will not necessarily concentrate on the metros," Kadle said.
With an asset base of Rs 6,828 crore as on September, 2008, up from Rs 3,329 crore in March the same year, Tata Capital has presence in retail and corporate finance, investment banking, broking, wealth management and treasury advisory.
