Monday, March 24, 2008

Red Fort Capital Plans $800 Mn. Real Estate Fund

Red Fort Capital will launch second in the series offshore fund, Red Fort India Real Estate Fund II next month with size of $800 Mn.
The fund will invest in FDI-compliant projects in the residential, commercial, retail and hospitality sectors and has an investment threshold of Rs 40 crore ($10 million). ‘’We are expecting returns of 30 per cent,’’ said Subhash Bedi, partner. Red Fort has also received approvals for domestic realestate fund.

Red Fort India Real Estate Fund I has given returns in excess of 55%.

A host of global private equity players, including Blackstone, Citigroup, Morgan Stanley and Tishman Speyer and domestic funds of ICICI, Kotak and HDFC, has committed or invested nearly Rs 20,000 crore ($5 billion) in the Indian realty sector.

Read More on Business Standard

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