IDFC to exit infrastructure, PE funds business

IDFC has started work on exiting the infrastructure and private equity funds management business, IDFC Alternatives, which has assets worth Rs 17,000 crore ($2.6 billion). IDFC Alternatives consists of three asset classes — infrastructure, real estate and generic private equity investments — and has been one of the longest running risk investment managers in the country. IDFC’s move to exit the franchise is independent of its ongoing merger discussions with Shriram Group, though the alternatives business would not have found place in the proposed combine.