Saffron To Raise Rs 300 Crore For Domestic Realty Fund

August 10, 2007	(Be the first to rate this story!)  Loading ...
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Saffron Asset Advisors, a UK based real estate asset management company plans to raise Rs 300 crore for a domestic realty fund and offshore sector specific funds in logistics, hospitality, health care, and infrastructure.

It is also pondering upon to float a $100 million hospitality fund and a $200 million health care fund which will make investments in various assets, informs Ajoy Veer Kapoor, Managing Director, Saffron Asset Advisors.

Saffron envisages serving as an end to end long term management house for prime segments across the country. Indian market provides good liquidity and the company is working in the same direction. Yatra will invest around $1 billion in real estate projects over the next 1 year.

Yatra will primarily focus on FDI-compliant projects in India. It will also look forward to invest in alternative assets which did not fall in the FDI.

Last year, Yatra has earlier raised $ 100 million on the Amsterdam based NYSE Euronext and also invested the same amount in real estate projects. The fund manager also parked 3.73 million euros in the Phoenix Mills and acquired 0.88 per cent stake in the company.

In nearer term, Yatra will raise $140 million from NYSE Euronext which it says to invest in the next 6-9 months. Recently, the fund has bought Eredene Mauritius for €18.07 million from Eredene Capital PLC.

News Published Under:   Banking and Finance |

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