Greater Pacific mulls raising USD 750 mn for India, China | business | Hindustan Times
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Greater Pacific mulls raising USD 750 mn for India, China

business Updated: Feb 09, 2009 16:43 IST

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Indo-China private equity firm, Greater Pacific Capital, plans to launch a private equity fund amounting to USD 750 million within a year, with an aim to invest in the country’s new emerging sectors including alternate energy, specialty retail, etc.

“We have plans to raise another fund of USD 750 million which is likely to come out within a year,” London-based Greater Pacific Managing Director Pradeep Udhas told reporters in Chandigarh on Saturday.

Fifty per cent of proceeds of the fund have been proposed to be utilised in India and rest in China, he said.

Although the company foresees 2009 as challenging year for the economy in light of the slowdown, Pradeep asserted that the new fund would look at new rising segments of India for making investments.

“We see opportunities in alternate energy, precision tooling, clinical research organisations, specialty retail and pharmaceutical companies. We also see huge potential in companies located in tier II and tier III cities in terms of injecting money to let them grow,” he said.