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Citigroup Raises $500M As Part of Its $5-B Fund With Blackstone
Posted on May 16, 2008
Citigroup has raised $500 million for investing in Indian infrastructure sector, Bloomberg reported. This is part of the $5 billion Indian infrastructure fund Citigroup is raising along with Blackstone Group LP. The fund would invest in roads, ports and utilities in India.Indian infrastructure sector needs $450 billion in investments by 2012. There has been a rush of infra fund announcements in the last few months. ICICI Bank has just announced that it would raise $1 billion for investing in infrastructure sector, while Kotak Private Equity would also be raising a similar amount for investing ...
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