India metals tycoon Anil Agarwal seeks $5 billion for turnaround fund

摘要

Commodities tycoon Anil Agarwal is seeking at least $5 billion for a fund targeting companies being sold off by the Indian government, marking a return to the strategy that made him wealthy.Agarwal is targeting $1 billion or more in an initial round of fundraising for the proposed India Direct Investment fund, according to people familiar with the matter, asking not to be identified because the plans are private. He is already scouting for targets and could spend nearly $10 billion on the first few acquisitions, one of the people said.