By Netty Ismail

Dec. 15 (Bloomberg) -- Blackstone Group LP, manager of the world's biggest buyout fund, and Citigroup Inc. are in talks with the Indian government to start a $5 billion fund that will invest in the nation's infrastructure projects.

The debt and equity fund will finance ports, airports, roads, power and similar facilities in the next five years, said Arvind Mayaram, joint secretary at the finance ministry in New Delhi. The size and structure of the fund are being worked out, as separate discussions with Blackstone and the private equity unit of Citigroup are at initial stages, he said.

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Posted by pichu at December 15, 2006 9:05 PM