The country’s largest lender, State Bank of India (SBI), plans to float a distressed asset fund in the new year and will be roping in a global partner to raise money from international investors. Rajnish Kumar, chairman, SBI, told Business Standard: “We are expanding our fund management business.
At present, SBICAP Ventures, a fund management arm of the group, is managing a realty fund. It is looking at a distressed asset fund too.” SBICAP Ventures is creating capabilities to manage funds, he said. The size of the distressed asset fund is expected to be on the …
Source: Business Standard
