Tata Power-ICICI Venture´s JV to light-up by foreign investors

Canada´s Caisse de depot et placement du Quebec (CDPQ) along with the sovereign wealth funds State General Reserve Fund of Oman (SGRF) and Kuwait Investment Authority have agreed to team up with Tata Power and ICICI Venture and formalise a JV platform to buy out troubled power assets. The three global investors are now together investing around $650 mn of equity to create a dedicated pool of $850 mn, making it one of the largest commitment from SWFs and pension capital in the country.