IL&FS Investment Managers(IIML), India's Premier Investment Manager, is likely to raise funds over $900 million in 2007 to boost its presence in different sectors including infrastructure, real estate and hospitality.

This known private equity arm of IL&FS is also in final stages of talks with Trikona Capital, the US based PE fund to raise a whopping amount of $500 million, spread over two sector specific capitals. IIML seems to come back into the form with new plans in pipeline. The giant group has also plans to set up a $1 billion PE funds with Abu Dhabi Investment Corporation for investments in infrastructure.

IIML and Trikona Capital have two sector-specific PE funds for investments in real estate and hospitality. Interestingly, these sectors are also a part of the IIML's proposed PE funds with Trikona Capital. The corpus of both the sector-specific funds may reach $250 million each.

IIML is going to park its proprietary fund only in infrastructure projects in India. The company's vice-chairman & MD, Shahzaad Dalal, has yet not revealed anything about the plans. However, it would raise the proposed fund by the next three to four months.

IIML currently manages assets in excess of USD1 million as far as funds are concerned and also lords over a USD56 million proprietary fund of IL&FS. IIML has deployed $10 million of its $100 million PE fund set up jointly with Trikona Capital for investments in infrastructure and real estate.

The amount of capital parked in $9 million in IL&FS Transportation Networks Limited for a 2.5% stake in the last October. Then come the turn of second fund that was jointly promoted by IIML and Trikona Capital. It is known to be the hospitality fund which has deployed $60 million out of its $100 million.

The $1 billion PE funds with ADIC will park good amount in infrastructure assets in west Asia and North Africa. Both ADIC and IL&FC will invest around $50 million in new fund.

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