The origins of IIML date back to 1989 when it was founded as Credit Capital Venture Fund (India) Limited (CCVF), an affiliate of Lazard Brothers. CCVF was the first private sector venture capital company in India, and managed a number of small sector focused funds apart from investing its own proprietary capital.
Infrastructure Leasing & Financial Services Limited (IL&FS) acquired CCVF in 1996, completed an intensive management and financial re-structuring, merged its own private equity business into CCVF and renamed it IL&FS Investment Managers Limited (IIML).
IL&FS retains management control of IIML with a shareholding of 50.5%. IIML is listed on the National Stock Exchange (Stock Code:IVC) and the Bombay Stock Exchange (Stock Code:511208).
In late 1990s, IIML became the first Fund Manager to establish an Infrastructure focused Private Equity Fund, with participation from large international investors (The AIG India Sectoral Equity Fund).
In early 2000s, IIML recognized the need for specialized seed capital funding for project development activities relating to large format infrastructure project and was a pioneer in establishing a dedicated infrastructure seed capital fund (The India Project Development Fund).
By mid-2000s, as the country opened its doors to real estate investing, IIML moved quickly to establish one of the first and the largest real estate funds (The IL&FS India Realty Fund - I).
Consolidating presence across the Investment Spectrum
During the course of the last 16 years, IIML raised and managed 13 Funds, which invested across the wide spectrum of the Indian economy. IIML also has integrated 2 real estate funds into its operations during FY2011. One of these funds (Yatra Capital) is listed on Euronext.