ADB commits $50m to India PE

The Asian multilateral financial institution has committed capital to True North’s India-focused private equity fund.

The Asian Development Bank (ADB) has approved an equity investment of up to $50 million in True North’s sixth fund.

True North IV is expected to make up to ten equity investments of between $50 million and $150 million in the middle-market companies in the financial services, healthcare, consumer and technology sectors in India.

Platinum subscribers may click here for the ADB’s full profile, including key contacts, allocation strategy and fund investments.