The India head of Morgan Stanley Infrastructure Partners - Gautam Bhandari is set to leave the company and has plans to establish an Infrastructure fund focused in India along with a former colleague.
Bhandari has been associated with the PE firm since 2008 and some of the major investments under him include Asian Genco, Indus Concessions and the recent acquisition of Continuum Wind Energy for R1,200 Cr earlier in June this year.
Prior to that, he was based in New York with the Morgan Stanley IB division focused on engineering, industrial services and alternate energy sector being associated with the company for 7 years.
Morgan Stanley Infrastructure (MSI), part of Morgan Stanley Investment Management, is an infrastructure investment and management platform with $4 Bn worth of AUM that focuses on assets providing essential public goods and services to societies across the globe. It invests and manages diverse assets covering 11 sectors in eight countries across four continents.
In the infra funding space, IDFC was planning to raise $1-1.5 Bn in April for a new infrastructure fund to invest in the country and ICICI Bank and Kotak Mahindra Bank were also planning to raise infrastructure funds.
The Planning Commission projected that investment in infrastructure would almost double at $1,025 Bn in the Twelfth Five Year Plan (2012-17), compared to $514 Bn in the Eleventh Plan. Of the $1,025 Bn, 50% is expected to come from private sector, whose investment has been 36% in the Eleventh Plan.
The infrastructure sector accounts for 26.7% of India's industrial output.
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