Reuters: Private Equity: PE fund Jacob Ballas invests $38 mln in MARG Karaikal Port

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PE fund Jacob Ballas invests $38 mln in MARG Karaikal Port May 2nd 2012, 09:03 MUMBAI | Wed May 2, 2012 5:03am EDT MUMBAI May 2 (Reuters) - India-focused private equity firm Jacob Ballas, backed by New York Life International, has invested $38 million in Marg Karaikal Port, a unit of MARG Ltd , for a minority stake, the south Indian infrastructure firm said on Wednesday. The port will use the funds to expand capacity to 28 million metric tonnes per annum, it said in a statement. MARG Karaikal Port is an all-weather port on the south east coast of India. Last year, Ascent Capital invested about 2 billion rupees to pick a minority stake in the firm.. The Indian Infrastructure Fund backed by India's IDFC and Citigroup had invested in the port in 2010.

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