SEBI (Securities and Exchange Board of India) for first time has approved an “airport’ specific fund“, titled “Taking off to the future airport fund”, Under “Category II Alternate Investment Fund” (AIF).
It can raise capital up to 1.5$bn (Rs. 10,000 crore). A minimum capital contribution of Rs. 3500 crore and a maximum of Rs. 7000 crore is targeted by fund.
The Sponsor and Investment Manager of fund is Chennai based and is termed as ‘Taking Off To The Future Investment Management LLP’.
Gigi George will lead management and operation of ‘Sponsor/Investment Manager’.