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State Bank of India may float US$2B distressed asset fund in 2020

State Bank of India is looking to float a distressed asset fund in 2020, the size of which could be as much as US$2 billion, Business Standard reported Jan. 1, citing SBI Chairman Rajnish Kumar.

The bank's fund management division, SBICAP Ventures, which is currently managing a realty fund, is in talks to launch the distressed asset fund with an international partner, Kumar added.

The fund is expected to be established along the lines of the government-backed alternative investment fund for distressed housing projects, the report noted.