Ex-Coca-Cola execs launch $1bn Indian infrastructure fund

The new fund has been established by US hedge fund Fursa, Indian infrastructure financing company SREI and Indian holding company Prima Donna.

Vision Global Investments, a management company set up as a three-way venture of Fursa Alternative Strategies, SREI Infrastructure Finance and Prima Donna Global Holdings, has launched a $1 billion (€628 million) Indian infrastructure fund.

The fund will be led by Sanjiv Gupta, formerly the chief executive officer of Coca-Cola South Asia based in India. Following his role at Coca-Cola, Gupta was a managing director for Indivision Capital, a Future Group-promoted consumer-centric private equity fund that invests in India.

All three founders of Vision Global are committing capital to the fund, but Debesh Nanda, a managing director at Vision Global and head of its Bahrain operations, declined to disclose details. Nanda is also a former director of financial strategy at Coca-Cola.

Nanda said that the Vision Global Infrastructure Fund is a “multi-sector and multi-stage fund” that will invest in everything from power, telecom and oil and gas to roads, ports, railways, airports and logistics.

News outlets in India have reported that the fund will be making investments of $25 to $75 million and is expected to yield an average 20 to 25 percent return per year.

The fund is expected to see a first close at $300 million by June this year, and is expected to close on $1 billion by the end of the year. Investors are being sought from the US, the Middle East, South East Asia and Japan.

The new company is expected to have a team of around 14 professionals based out of Mumbai and Delhi managing the infrastructure fund.

Prima Donna is a holding company set up by Indian management professionals based out of the Middle East, Singapore and India and headed by Gupta. SREI Infrastructure is a non-banking infrastructure financing institution in India whose core services include equipment finance, infrastructure project finance and renewable energy equipment finance. Fursa Alternative Strategies is a US-based hedge fund sponsor that also invests in public equity, fixed income and private equity globally.

The fund will join a large number of Indian infrastructure funds already in the market. In February, Kotak Investment Advisors launched a $1 billion fund for Indian infrastructure. The previous year, The Blackstone Group teamed up with Citigroup and India's Infrastructure Development Finance Company to form a $5 billion Indian infrastructure fund, and London-listed 3i Group launched a $1 billion Indian infrastructure fund.

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