Funds to raise $5 bn for Indian infra.

When Piramal Enterprises committed $1 billion in a tie-up with Dutch pension fund APG Asset Management last month for investment in the infrastructure sector, it heralded a renewed interest in the sector. Now, three home-grown private fund managers - IL&FS, L&T Infrastructure Finance and IDFC Alternatives - are gearing up to raise $2.5 billion over the next six to eight months.

Besides, another $2.5 billion is expected to be dedicated for India out of the estimated $7.5 billion currently getting raised by global fund managers such as Morgan Stanley Infrastructure, KKR & Co and J P Morgan Chase & Co for their global infrastructure investment funds. When contacted, Morgan Stanley declined to comment.