MUMBAI, April 4 - Fund manager Saffron Asset Advisors is raising a maximum of five hundred million dollar through an India- focused real estate fund, and has agreed for Standard Life as anchor investor, a top official said on Friday.
Saffron’s Managing Director A. V. Kapoor stated that Standard Life will invest seventy five million dollar in the eight-year fund, which will invest in projects from corner to corner of India.
He imagines that Saffron India Real Estate Fund-I to complete fund raising by the second quarter of this financial year.
Saffron has already lined up some projects for investment through the new fund, and will be pronouncing these very soon.
Saffron previously raised two hundred twenty million euros through its Euronext-listed Yatra Capital for investing in the Indian real estate market.
Foreign investors have raised investments in India’s real estate market in the preceding few years, attracted by the gradual maturing of the industry and surging property prices, which have risen for five straight years.
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2 Comments
Saffron has already lined up some projects for investment through the new fund, and will be pronouncing these very soon.
Definately, foriegn investors are very much showing their interest in the investing of that type of levels.