The funds will be used by Riverwalk Investment Manager to subscribe for unlisted Class E units in Fund II, thereby giving Paramount Investments an additional indirect interest in the first fund.
Thakral Corporation’s wholly-owned subsidiary Paramount Investments is subscribing for unlisted units in the Riverwalk Fund II for an investment amount of INR425 million ($6.3 million).
The company will make a capital commitment of about INR420 million and directly subscribe for unlisted Class B units in the Riverwalk Fund II, an Indian domiciled fund which has been registered with the Securities and Exchange Board of India, and invest INR5 million in cash to acquire 10% interest in Riverwalk Investment Manager LLP, the sponsor and investment manager of the fund.
