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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

Abhijit Lele  |  Mumbai 

SBI
The logo of State Bank of India is pictured at its headquarters in Mumbai (Photo: Reuters)

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

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

OIJIF, a mid-market India focussed fund, has announced the first close for its second fund OIJIF Fund II, at $220 million. In addition to and SGRF, a few new investors are part of the first close.

OIJIF Fund II is targeting a corpus of $300 million by 2017-end. Keeping in line with the larger fund corpus, OIJIF will look to make larger ticket size investments from this fund. A typical size of a single investment is expected to be $20-25 million, the executive said.

The first fund of $100 million, has been fully invested across seven and has returned around 50 per cent of the capital invested after divesting around 15 per cent of its investment. Rest of the portfolio are expected to be divested over the next few years.

OIJIF will continue with its investment strategy of focussing on mid-market that are market leaders where it is able to deploy a combination of capital and experience to unlock the companies' true potential and spur growth.

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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

SGRF to infuse $150 mn; OIJIF Fund II is targeting a corpus of $300 million by 2017-end State General Reserve Fund of (SGRF), a Sovereign Wealth Fund and the State Bank of India will infuse $150 million and $50 million respectively in fund India Joint Investment Fund (OIJIF).

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

OIJIF, a mid-market India focussed fund, has announced the first close for its second fund OIJIF Fund II, at $220 million. In addition to and SGRF, a few new investors are part of the first close.

OIJIF Fund II is targeting a corpus of $300 million by 2017-end. Keeping in line with the larger fund corpus, OIJIF will look to make larger ticket size investments from this fund. A typical size of a single investment is expected to be $20-25 million, the executive said.

The first fund of $100 million, has been fully invested across seven and has returned around 50 per cent of the capital invested after divesting around 15 per cent of its investment. Rest of the portfolio are expected to be divested over the next few years.

OIJIF will continue with its investment strategy of focussing on mid-market that are market leaders where it is able to deploy a combination of capital and experience to unlock the companies' true potential and spur growth.

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Business Standard
177 22

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

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

OIJIF, a mid-market India focussed fund, has announced the first close for its second fund OIJIF Fund II, at $220 million. In addition to and SGRF, a few new investors are part of the first close.

OIJIF Fund II is targeting a corpus of $300 million by 2017-end. Keeping in line with the larger fund corpus, OIJIF will look to make larger ticket size investments from this fund. A typical size of a single investment is expected to be $20-25 million, the executive said.

The first fund of $100 million, has been fully invested across seven and has returned around 50 per cent of the capital invested after divesting around 15 per cent of its investment. Rest of the portfolio are expected to be divested over the next few years.

OIJIF will continue with its investment strategy of focussing on mid-market that are market leaders where it is able to deploy a combination of capital and experience to unlock the companies' true potential and spur growth.

image
Business Standard
177 22