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Macquarie, State Bank of India Plan $2 Billion Fund

BusinessWeek – Macquarie Capital Group and State Bank of India (SBI) plan to raise a new $2 billion fund that will invest in direct infrastructure investment opportunities in India.

Macquarie and SBI have signed a memorandum of understanding to set up a company and manage the proposed fund. The International Finance Corporation (IFC), as one of the fund’s cornerstone investors, will also have a stake in the proposed company.

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