SBI Signs $ 50 mn Pact with Oman’s SGRF

SBI Signs $ 50 mn Pact with Oman’s SGRF

State Bank of India has signed a pact with the State General Reserve Fund of Oman (SGRF), a Sovereign Wealth Fund to infuse $50 million in private equity fund Oman India Joint Investment Fund (OIJIF) while the SGRF would infuse $150 million. The SBI aims at backing the private equity fund for

its second offering (Fund II). This decision is driven by the performance in the first fund and capital requirement for mid-SBIsize companies in the country. The first fund of $100 million, has been fully invested across seven companies and has returned around 50 per cent of the capital invested.

Oman

♦ Capital: Muscat

♦ Currency: Omani rial

♦ Sultan: Qaboos bin Said al Said