Hastings to launch infrastructure debt fund in India

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Hastings to launch infrastructure debt fund in India

Hastings Funds Management has agreed a partnership with India's Aditya Birla Group to invest in India's infrastructure.

The partnership will initially be focused on providing debt financing for existing infrastructure projects such as airports and toll roads through a dedicated Indian infrastructure fund.

According to Hastings Chief Executive Andrew Day, the companies have identified as many as 250 already-operating assets that may provide investment opportunities. Mr. Day said that the fund would aim to provide longer-tenured debt of 10-15 years to Indian infrastructure companies, freeing up local investors to fund newer infrastructure. He said he foresaw sovereign-wealth funds, pension companies and insurance firms in Asia, the U.S. and U.K. signing up to the new fund.

Mr. Andrew Day stated:

Until now we had really concentrated on selecting our strategic partner and putting the platform in place. Next, we'll start testing investor appetite.

Hastings already manages about 7.4 billion Australian dollars (US$6.9 billion) in infrastructure assets globally. It is eager to tap into the Indian market as it looks to expand its presence in Asia, where so far it has focused on South Korea and Japan.

The Aditya Birla group is a diversified conglomerate with a total revenue of approximately US$40 billion in year 2012. The group interests in sectors such as viscose staple fibre, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilisers, insulators, financial services, telecom, BPO and IT services.

Investors have started to return to India as the country's economy has improved following a period of slowing growth.

List of country news

Country news

  • April 07, 2014

    Meeting held for Mumbai airport PPP deal

    The City and Industrial Development Corporation of Maharashtra (CIDCO) held an industry meeting attended by 20 prospective bidders for the Navi Mumbai International Airport PPP project. Read more
  • April 07, 2014

    Gammon Infra agrees termination of two road concessions

    Gammon Infrastructure and the National Highways Authority of India (NHAI) have agreed to terminate concession contracts for two road projects. Both project were awarded to Gammon Infrastructure in 2012. Read more
  • April 11, 2014

    Private investment in roads in India declines

    According to data provided by the Indian Highway Ministry, private investment in Indian road projects has declined for the first time in seven years. Read more
  • April 16, 2014

    Legal consultant sought for rail PPP project in India

    The Dedicated Freight Corridor Corporation of India Limited, a company owned by India Ministry of Railways, Read more
  • April 17, 2014

    Gammon's bridge BOT to be taken over by local authority

    The Greater Cochin Development Authority (GCDA) has announced that it will take over the BOT bridge at Mattancherry in Kochi (Kerala, India) on April 27th. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.