New Delhi, June 12 -- GEF Capital Partners, which invests across the US, Brazil and India, is planning a $600 million fourth fund on the back of its blockbuster partial exit from solar modules makerPremier Energies, according to a person briefed on the matter.

The fourth fund could eventually deploy as much as $1 billion after including investor co-investments, the person cited above added, asking to remain anonymous. Co-investments allow investors in a fund to deploy capital alongside the main private equity fund to boost their exposure to an investment.

The PE fund made a partial exit from its investment in Premier Energies by selling a 5.5% stake through a block deal on Tuesday, which amounted to Rs.2,625 crore. The initial investmen...