Aditya Birla Group Launches Real Estate Fund

Published: November 29, 2009 at 9:21 PM | Author: Administrator
News Source: 17 Nov 2009 - vccircle.com

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Aditya Birla Group has launched a real estate fund with plans to raise up to $500 million. The fund, which is called the Aditya Birla India Real Estate Vision Fund, will be managed by the group's assets management arm Birla Sun Life Asset Management, has a target corpus of $350 million with a green shoe option to raise another $150 million. It plans to mainly invest in residential projects, but will also look at commercial properties, retail malls, among others. Nishith Desai Associates is advising on the fund formation.