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IDFC Real Estate Investments is planning to raise a $500 million real estate private equity fund, joining a handful of other funds that are on the road to raise fresh capital in the midst of a protracted slump in the sector.
The real estate arm of the Infrastructure Development Finance Company will focus on investing in leasedout commercial assets, according to a person with direct knowledge of the development.
"IDFC is looking at creating a portfolio of commercial projects by using its balance sheet, and then shopping the same to investors globally, to participate in the fund," said the person, on condition of anonymity. The company is expected to create a pipeline of at least four to six projects before embarking on an investor road show.
The fundraising efforts are being headed by Chetan Dave, managing director and chief executive IDFC Alternative International, who has been given the responsibility of developing a portfolio of infrastructure-focused real estate assets and a real estate private equity funds management business.
An IDFC spokesperson declined to comment. A report in December by real estate brokerage firm Jones Lang LaSalle India said only $3 billion worth of exits have been recorded in the Indian real estate sector, as opposed to $13 billion of committed investments since 2005.
Presently, there are 15 real estate-focused private equity funds, including, Shapoorji Pallonji real estate fund, Redfort Capital, Indiareit, ASK, Morgan Stanley, Walton Street and Sun Apollo, who are on the road to raise around $4 billion from domestic and global investors.
Source: EconomicTimes
The real estate arm of the Infrastructure Development Finance Company will focus on investing in leasedout commercial assets, according to a person with direct knowledge of the development.
"IDFC is looking at creating a portfolio of commercial projects by using its balance sheet, and then shopping the same to investors globally, to participate in the fund," said the person, on condition of anonymity. The company is expected to create a pipeline of at least four to six projects before embarking on an investor road show.
The fundraising efforts are being headed by Chetan Dave, managing director and chief executive IDFC Alternative International, who has been given the responsibility of developing a portfolio of infrastructure-focused real estate assets and a real estate private equity funds management business.
An IDFC spokesperson declined to comment. A report in December by real estate brokerage firm Jones Lang LaSalle India said only $3 billion worth of exits have been recorded in the Indian real estate sector, as opposed to $13 billion of committed investments since 2005.
Presently, there are 15 real estate-focused private equity funds, including, Shapoorji Pallonji real estate fund, Redfort Capital, Indiareit, ASK, Morgan Stanley, Walton Street and Sun Apollo, who are on the road to raise around $4 billion from domestic and global investors.
Source: EconomicTimes
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