IIML invests from its $225-million Tara India Fund III.

IL&FS Investment Managers Ltd (IIML) is planning to raise its latest sector-agnostic fund, Tara India Fund IV. The firm will initiate the fund-raising process by the end of this year. The fund size is to be in the range of $300-400 million with an investment focus on areas such as infrastructure, consumer services, manufacturing, information technology and pharmaceutical, healthcare service sectors.
 
Archana Hingorani, chief executive officer, IIML said, "The fund-raising mood is changed very much and we are optimistic about our next fund, Tara India Fund IV. We are in talks with our investors and hope to start fund-raising by the end of this year."
 
The latest fund raised by IL&FS was Tara India Fund III, a $ 225 million. Tara India Fund III, established in 2007, follows its earlier sector agnostic funds, the AIG India Sectoral Equity Fund and the Leverage India Fund. Tara India Fund III invested in Ramky Enviro Engineers Ltd, GSS America Infotech, Quickjet Cargo Airlines, RBS Group and Ramky Infrastructure Ltd. IIML has already committed about 75% of Tara India Fund III so far.