IDFC Alternatives, the private equity arm of IDFC Ltd, is on sale.
On 28 April, finance company IDFC Ltd announced on the stock exchanges that it had sold its infrastructure-focused fund to US-based private equity fund Global Infrastructure Partners India (GIP) for an undisclosed sum. With this deal, IDFC has sold off the oldest Indian infrastructure fund in the country which had, so far, deployed $1.8 billion. And it won’t be long before multi-asset manager IDFC Alternatives is completely disposed of as well.
That’s not all. The general private equity fund and the real estate fund are also under sale and should be concluded in the next few months.