LONDON, Aug 22 (Reuters) - UK-based private equity firm 3i Group (III.L: Quote, Profile , Research) said on Wednesday it was setting up a $1 billion fund to invest in Indian infrastructure, including power, ports, airports and road projects.

3i will invest at least $250 million in the fund, which will be unlisted, subject to approval by its shareholders. The rest will be raised from other investors.

The firm already has 10 investment and advisory professionals in Mumbai. 3i has invested $325 million in India since 2005 in real estate, media and other sectors.

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Posted by rjorr at August 22, 2007 6:49 PM