Mumbai, Oct 02: Resource Financial Corporation (RFC), an US-based provider of investment and merchant banking services, is to set up an India specific US dollar 300 million private equity fund. "Half of amount for Indian American Capital Partners (IACAP) will be raised in the US while the balance is expected to come from Indian institutions, however, we will like the latter to contribute significantly. We expect this whole process to take about six months", RFC president and principal Russell Stepke told newspersons.
RFC is being advised by city-based Brescon, which has expertise in structuring and implementing financial restructuring solutions for mid-sized companies.
Stepke said "we are keen to find investment opportunities in select industries including it, BPO, media, healthcare, pharma, auto components, chemicals, power generation and FMCG. However, the fund will not invest in real estate and oil and gas sectors".
There was tremendous growth opportunities in India and it was also possible to get a return of 30-35 per cent on investments, he said, adding, the fund would look at taking minority stakes (26 per cent) while investing in the country.
Brescon, with which RFC has formed an alliance in March 2003, would be responsible for identifying, analysing, structuring and implementing investment opportunities in India.

Bureau Report