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 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 SBI executive said.
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