P B Jayakumar / Mumbai

Clear Trade, a US-based private equity firm with Indian roots, has floated a $12 billion fund in association with leading US private equity companies to exclusively invest in upcoming power and infrastructure projects over a five year period.

Philip Ho, managing director of the US PE firm Cornell Capital, Axis Bank-promoted Axis Private Equity, Morgan Stanley and other leading US funds, including one of the largest PE players in the hospitality sector are participating in this fund. Clear Trade is also talking to some leading European pension funds to join the fund.

Power Finance Corporation (PFC) is likely to pick up 20 per cent and has given a letter of intent to join the"Clear Investments Power and Infrastructure Fund", Deepak Kavadia, managing director of Clear Trade told Business Standard in a telephonic interview from the US.

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Posted by dcjaya at February 14, 2008 2:34 PM