Larsen & Toubro Ltd.

L&T Infrastructure Finance Company, Non Banking Financial Company (NBFC) promoted by engineering and construction conglomerate Larsen & Toubro, has launched its maiden $500 million debt fund. L&T has also started road shows for the new fund and is now approaching investors, including insurance companies to invest in the new investment vehicle.

The fund, which will join a number of private equity firms that have set up infrastructure dedicated funds in recent months, will be investing in distressed assets, particularly in the roads segment.

Larsen & Toubro is a $13.5 billion technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.