PTC India to form private equity JV with Ashmore Group

NEW DELHI: Power trading solutions company PTC India on Friday said it has entered into a joint venture with the UK-based investment management firm Ashmore Group to form a private equity fund, which is likely to be finalised later this year.

"We have signed a joint venture with Ashmore Group and by September everything would be final," PTC India chairman and managing director TN Thakur told reporters in New Delhi.

PTC India will hold 40 per cent equity in the PE fund and the remaining participating interest will be with Ashmore.

The PE fund will look into investing in power, coal and port projects, Thakur added.

Ashmore Group Plc and its subsidiaries are one of the world's leading emerging market investment managers.