US pension funds to visit India next week for investment opportunities
Mumbai, Sep 5 (PTI) US Consul General in the financial capital Mike Hankey on Thursday said five pension funds from America, having over USD 1.8 trillion of assets under management, will be visiting India to scout for long-term investment opportunities next week.
Without disclosing their names or the investment targets, he said the visiting executives from the funds will also be meeting financial regulators like the RBI and Sebi and also trying to understand the booming initial public offerings (IPO) in India.
Hankey said the US pension funds have directly or otherwise invested over USD 50 billion in India, while the Development Finance Corporation has invested another USD 4 billion.
These five funds have members from across the 50 states of the US, he said, adding that these include Democrats and Republican states.
He said the 'Mutual Futures Pension Fund Roadshow' is being arranged by the US, along with India's Ministry of Finance and the National Infrastructure Investment Fund.
"We're bringing these high-level executives out to meet the top Indian political and business leaders to learn more about the Indian investment market," Hankey said.
The executives will be visiting the financial capital and Bengaluru as part of the visit, which is being arranged as part of efforts to bring more US investment into India to build a long-term partnership between the two countries, he said. PTI
