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Fundraising by Indian Real Estate Fund Managers

by Farhaz Miah

  • 26 Nov 2010
  • RE

Fundraising by Indian real estate fund managers showed robust signs of growth in 2006 and 2007, with totals of $1.7 billion and $3.2 billion raised in each year respectively. This was a significant increase from the $0.5 billion raised in 2005. Fundraising in 2008 saw a small dip in aggregate capital raised to $2.8 billion by eight funds. 2009 proved to be a challenging year for Indian real estate fund managers, with only four funds closed raising just $0.7 billion. January to October 2010 has not seen a marked increase in the fortunes of Indian real estate fund managers as investors remain cautious of risk in the uncertain economic climate. In this period only two funds have closed, raising a total of $0.1 billion. There are currently eight funds in market being raised by Indian firms, and these vehicles are looking to raise an aggregate $1.6 billion.

IL&FS Investment Managers, one of the largest private equity managers based in India, is the most prolific Indian real estate fundraiser in the last 10 years, having raised $1.4 billion of capital. Urban Infrastructure Fund and GRIHA investments are other notable Indian real estate fund managers, having raised $1.3 billion and $1.0 billion respectively over the last 10 years.

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