09 April, 2019 Salts news

First version of Hot Spot Land Cover Change Explorer

(Bloomberg) -- Some ex-Tata Group executives have teamed up with a veteran investor to seek to bring change at Indian companies, in a rare attempt to influence management in a country where shareholder activism has largely failed to take hold. Former Tata employees including Mukund Rajan and Govind Sankaranarayanan have partnered with Ajit Dayal, the founder of mutual fund firm Quantum Advisors P t

The team expects to get regulatory approval for the tentatively named Active Engagement Fund by May and seeks to raise and invest $1 billion in the next three years, Sankaranarayan said in an interview in Mumbai. The fund expects to begin investing from September.

Sankaranarayan, who spent more than two decades at Tata Group, says the fund deliberately shunned the activist moniker and positioned itself as an environmental, social and governance vehicle because aggressive activism just wouldn’t succeed in India. The reason, he says, is that founding shareholders typically tend to own as much as 40 percent of companies. Instead, the fund will invest in smalle