12 May 2008 06:00
| Immediate Release | 12 May 2008 |
KSK Power Ventur plc
KSK Emerging India Fund Ltd
KSK Power Ventur plc ("KSK", the "Company" or the "Group")
KSK (AIM: KSK.L), the power project development company with interests in multiple power plants across India announces that it intends to significantly expand its asset management business by launching KSK Emerging India Energy Fund Limited, ('the Fund') a new investment company which intends to list separately on AIM and the Channel Islands Stock Exchange (CISX). The Fund will be headed by Mr. Tanmay Das, and dealings are expected to commence in early June 2008. Mr. Scott Bayman, a director of KSK, will also be a director of the Fund.
KSK Asset Management Private Limited, a subsidiary of KSK, will act as Investment Manager to the Fund, and will receive management and performance related fees for its services. KSK will continue to act as manager to the Small is Beautiful Fund.
The Fund will target investments in businesses that operate across the Indian power and energy sector value chain, including those involved in the development of infrastructure. The Fund will be seeking to invest primarily in companies whose assets and businesses are based in India although, if deemed appropriate, it may also invest in companies based outside the region but which have the potential to benefit from the Indian power and energy markets.
In addition the Fund has been granted the opportunity, to co-invest up to 20% of the equity requirement in any KSK non-power generation investments. This arrangement will provide the Company with a new potential source of capital for its investment needs whilst giving the Fund access to additional deal flow.
Further details on the Fund will be announced in due course.
KSK Power Ventur plc 0091 40 2355 9922
S. Kishore, Executive Director
K.A. Sastry, Executive Director
Arden Partners plc 0207 398 1632
Richard Day/Adrian Trimmings
Buchanan Communications Limited 0207 466 5000
Mark Edwards / Ben Willey