February 23 2016, 16.40 PM IST || Pocket News Alert
Chandigarh, February 23, 2016: Srei Alternative Investment Managers Limited ("SAIML"), a Srei venture, today announced the launch of its Rs 2,000 crore India Vision Fund, which will invest in debt/mezzanine instruments of companies having future opportunities.
India Vision Fund will primarily concentrate on those companies which can be revived through proper nursing. The Fund will purchase assets/loans and invest by way of debt and other instruments, which will be taken over from corporates, banks, NBFCs, or even Asset Reconstruction Companies (ARCs).
Commenting on this announcement, Nalin Kumar, CIO, SAIML, said: "We are excited to launch the India Vision Fund. The Indian economy is gaining momentum with green shoots of economic recovery becoming distinctly visible. The Fund will buy assets with turnaround potentialproviding investors an opportunity to earn good returns on their investments. We have approached many investors, both domestic and international, and they have expressed keen interest to invest. Some of them are at an advanced stage of investment."
The Fund has already initiated talks with corporates and banks, and is specifically looking at those opportunities where resurrection is possible. The knowledge and expertise in managing the assets being bought is drawn out of a team of professionals who are in the Company and have expertise and experience of nursing companies into good health.
In view of the present stressed environment where many good companies are not in a position to get the necessary assistance to come out of their temporary problems, this Fund will be a panacea. The Fund will also facilitate the banking system to address many of the challenges that banks are facing in this juncture.
Kumar further mentioned: "We feel that good assets have been created in the country and it is a shame if these assets are allowed to languish due to absence of proper assistance. The opportunities in this area are huge. The depth of expertise we have within the organisation will give India Vision Fund the ability to assist in rejuvenating these floundering national assets."
About Srei Infrastructure Finance Limited ("Srei")
Srei Infrastructure Finance Limited is one of India's largest private sector integrated infrastructure institutions, constantly and consistently delivering innovative solutions in the infrastructure sector. The company has been playing a significant role in nation-building for more than two-and-a-half decades, both in urban and rural India. Srei's businesses include Infrastructure Project Finance, Advisory and Development, Infrastructure Equipment Finance, Alternative Investment Funds, Capital Markets and Insurance Broking. Srei headquartered in Kolkata has a network of 86 branches and has also replicated its business model overseas. Srei enjoys a sizeable international presence with branches in Germany, Nigeria, Mauritius, Russia and Singapore, among others.
