PE Fund Invests In MARG Karaikal Port

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>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.<br><br>The port will use the funds to expand capacity to 28 million metric tonnes per annum, it said in a statement.<br><br>MARG Karaikal Port is an all-weather port on the south east coast of India.<br><br>Last year, Ascent Capital invested about Rs 200 crore to pick a minority stake in the firm.<br><br>The Indian Infrastructure Fund backed by India's IDFC and Citigroup had invested in the port in 2010.<br><br><br>(Reuters)</p>