Bangalore: State Bank of India (SBI) has announced its plans to launch a range of sector-specific private equity (PE) funds. The funds would focus on stressed assets, real estate and small and medium enterprises in addition to a venture capital fund. In addition, SBI, the country's largest lender is also setting up a $3 billion infrastructure fund in association with the Macquarie group and International Finance Corporation (IFC). According to Business Standard, while SBI and Macquarie would hold 45 percent each in the fund, IFC's stake would be limited to 10 percent. The fund has already received commitment for a little over $1 billion and the rest of the funding was close to finalization. "We do things on a large scale. The investment opportunity is large and it will help finance infrastructure development in the country," said Om Prakash Bhatt, Chairman of SBI. While the Reserve Bank of India had expressed certain concerns over SBI's private equity investment, Bhatt said that regulatory approval had been received. "The delay is now on our part. We have to receive board clearance to make the funds operational," said Bhatt. Though SBI would be a late entrant to the private equity space, Bhatt was confident that it would not be a deterrent.