Indiareit fund advisors to raise $700 mn
Indiareit Fund Advisors Pvt Ltd, a real estate venture capital fund promoted by the Piramal group, will raise $700-800 million through an offshore fund.
By PTI |
MUMBAI: Indiareit Fund Advisors Pvt Ltd, a real estate venture capital fund promoted by the Piramal group, will raise $700-800 million through an offshore fund, a top company official said.
"This is our second international fund and we expect to raise USD 700-800 million. We already have a commitment of USD 250 million from 3i PLC and we expect to announce the fund with all necessary approvals by April," Piramal group chairman Ajay Piramal told reporters on the sidelines of a conference.
Indiareit Fund Advisors currently manages a total corpus of USD 450 million raised through two series of domestic funds as well as an offshore fund.
"This is our second international fund and we expect to raise USD 700-800 million. We already have a commitment of USD 250 million from 3i PLC and we expect to announce the fund with all necessary approvals by April," Piramal group chairman Ajay Piramal told reporters on the sidelines of a conference.
Indiareit Fund Advisors currently manages a total corpus of USD 450 million raised through two series of domestic funds as well as an offshore fund.
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