Ariston Capital Services Pvt. Ltd, a consolidated financial services group, has received SEBI approval for the launch of the Ariston IET Fund. Fund raising has commenced for the Ariston IET Infrastructure Fund 1, the first scheme under the Fund, with a target corpus of 1200 crores (with a green-shoe option of Rs 300 Crs), which will focus on investing in companies in infrastructure and allied sectors. The Fund will target an initial close at Rs 500 Crs and would have tenure of seven years.
According to Ram Khanna, Managing Director, Ariston Capital Services Pvt. Ltd, “We are pleased to have received SEBI’s nod, and have started the process of fund raising. Our target investors, including domestic financial institutions, banks, corporates and select UHNIs, have shown strong interest in participating in the fund. We are expecting to reach our first close by year-end.”
Sunil Tandon, Joint Managing Director, Ariston Group, who has been credited with initializing and successfully implementing the first large PPP projects in India in various sectors such as ports, airports and rail, says, “The need of the hour is to introduce transparency and corporate governance in the private equity sector. The Ariston IET Fund has a one-of-its-kind structure, where there has been no loading of costs to the investors. Also, the revenues to the fund managers have been back-ended, and they will receive their share of the profits only after the entire corpus of the fund and the hurdle rate have been paid back to the investors, thus aligning the interests of the fund managers with the performance of the Fund.”
The Executive Chairman of the Fund, SS Kohli, is the ex-Chairman of IIFCL and Punjab National Bank, and has hitherto played a pivotal role in the establishment of IIFCL, the Government of India’s infrastructure lending arm. The Ariston IET Fund team consists of professionals with hands-on managerial experience spanning the infrastructure project development, banking, infrastructure lending, private equity and financial advisory fields. Shirish Navlekar, CEO of the Fund, is the ex-CFO of the Delhi Airport, and CEO of the Delhi Aerocity. Furthermore, an independent Governing Council chaired by Mr SP Talwar, former Deputy Governor, RBI, has been formed to protect and enhance transparency and corporate governance for the fund and its investee companies.
About Ariston Capital Services Pvt. Ltd.:
Ariston Capital Services Private Limited is a consolidated financial services group with interests in M&A and private equity placement, management advisory and the financial markets. The Ariston Group consists of a team comprising of highly skilled and experienced Investment Bankers, Management Consultants, Project Finance & Structured Finance Experts and Fund Managers. For further information, kindly log on to www.ariscap.com
For further information on the Ariston IET Fund, kindly log on to www.aristonpe.com
