KEL decides IGCF General Partner as fund manager

October 20, 2022 (MLN): Karachi Electric Limited (KEL) informed on Thursday that changes have been made to the Infrastructure and Growth Capital Fund L.P. (Fund), being the owner of the Fund assets and IGCF General Partner Limited (IGCF GP) being the fund manager, the company’s filings on the Pakistan Stock Exchange showed on Thursday.

Furthermore, The Sage Venture Group Limited company has acquired certain limited partnership interests in IGCF GP as well as controlling interests in the Fund.

“The Fund does not have a controlling interest in K-Electric nor a controlling position on the K-Electric Board of Directors”, it added.

To recall, the disclosure made by KEL on 18th Oct that IGCF has acknowledged potential changes with respect to the General Partner and certain institutional investors of IGCF that there is no transaction being contemplated that would result in any direct and indirect changes in IGFC’S shareholding interest in K-Electric.

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