Frontline Strategy's IIG Fund takes 26 pc in Shriram SEPL

MUMBAI: Mauritius-based Frontline Strategy's India Industrial Growth Fund has picked up a 26 per cent stake in Shriram SEPL Composites, a joint venture of Shriram EPC and Strategic Engineering Pvt Ltd. This is the first investment from the SME-specific IIG Fund, a press release said here today.

Frontline Strategy is a Fabiani family office-anchored asset management company with prime focus on private equity investments. The company's Managing Partner, Atim Kabra, said that "the investment in Shriram SEPL Composites is a continuation of Frontline Strategy's focus on investing in companies with global scope and capability."

Shriram SEPL would manufacture next-generation glass fibre reinforced plastic pipes, the internationally preferred alternative to steel and concrete pipes for water and sewage and on-ground oil and gas pipelines, the release said. Shriram EPC's Managing Director and CEO, T Shivaraman, said that "we are happy to have Frontline as a long-term investor in this company. This is in line with our philosophy of working with partners in our businesses."