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Thursday, January 12, 2006

Now Private Foreign Money Coming To India

Franklin Templeton Investments manages assets to the tune of nearly USD400 billion globally, but when it comes to his personal cash, its Chairman Charles B Johnson, seems to prefer the India story. Charles Johnson, in his personal capacity is planning to launch a private equity fund in India called Tano Capital. This new private equity business will be completely unrelated to its asset management business in India.

Tano Capital will begin with an initial corpus of USD35 to 50 million, belonging to Johnson. The fund will be managed by Hetal Gandhi, head of investment banking at IL&FS and Carlton Perriera, head of Corporate Finance at KPMG.

According to the Forbes Billionaire list, Charles Johnson has a net worth of USD2.5 billion.



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