Dartmonkey,
I am curious as to why you find the FIH attractive, when we are already owning a shares of indirectly via FFH ownership. Particularly, I did not understand what you mean by "The fund seems attractive to me from both sides". do you mind sharing your thesis on FIH, Please?
Roughlyright
I have about 25% of my portfolio in FFH (that number is a fair bit higher today than it was last week) so I indirectly have about 0.5% in FIH as you say. It is easy to see why getting 1.5 and 20 is attractive from the FFH side, since it immediately adds a minimum of $15 million going straight to FFH (albeit 30% of that is going from one FFH pocket to another).
Why do I find it attractive from the FIH side? There can not be a more pure jockey play than investing in a billion dollar fund that is as yet entirely undeployed. So the only possible explanation is my high regard for Watsa in general and for Fairfax's Indian operations in particular, and the chance that a small, highly regarded fund with extensive local connections may be able to find good opportunities for investing capital in India, particularly with a business-friendly regime in place and a lot of catching up to do with other less developed countries. Combining that with the complete absence of Indian investments in my portfolio (apart from FFH), and my concerns that equity markets in North America may be overvalued, I added 2% of directly held FIH to my indirect 0.5% stake via FFH.