| Kuwait's sovereign wealth fund is teaming up with group of investors to target failing power assets in India. The Kuwait Investment Authority, along with Canadian pension fund, Caisse de depot et placement du Quebec, the State General Reserve Fund of Oman, Tata Power and ICIC Venture will create a joint venture funded specifically with the aim of buying up troubled power assets.
The KIA, along with the Canadian and Omani funds will invest around $650 million of equity to create a dedicated pool of $850 million, the Economic Times of India reported yesterday. The joint venture will eventually amass a pool of a reported $4 billion to $5 billion to use to buyout financially troubled power assets. A formal announcement is expected by end February...............................................Full Article: Source
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