Mumbai, Feb. 1 -- Mutual fund veteran Ajit Dayal, former Tata brand custodian Mukund Rajan and at least three other former Tata group executives floated a $1-billion private equity fund along with Quantum Advisors mutual fund on Monday, 28 January, designed to invest solely in listed firms that promote environment, social and governance (ESG) values.
Rajan and Dayal are joined by former Tata Capital chief operating officer Govind Sankaranarayanan, former Tata Sons director Alan Rosling, former Tata group chief of sustainability Shankar Venkateswaran, and Harish H.V., former partner at Grant Thornton. The fund will work with firms willing to recognise long-term advantages of actively adopting ESG standards of excellence, Rajan, also chairm...