HSBC to Set $600 mn Indian Realty Fund

October 5, 2007	(1 votes, average: 3 out of 5)  Loading ...
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HSBC, one of the largest banking groups in the world, is planning to raise an India focused real estate fund. It is likely to raise $500-600 million for the fund. It will put the plans into green box in the next few weeks.

Till date, HSBC has been making private equity investments in India through HSBC Private Equity (Asia) Ltd.  The banking major is eager to tap the potential of Indian real estate. It will also invest a small amount into other sectors.

Staying in step with the real estate developments taking place in the sector, there are several realty companies which have set up funds to make a killing on the prospects.

Private banks such as HDFC, Kotak Realty and IL&FS have established their respective real estate funds to attract cross-border investments for properties in India.

IL&FS Investment Managers raised a $502.57 million in May 2006. Following in footsteps, HDFC raised a $750 million international fund in September 2006.

There are a number of other global financial institutions being bullish on to make investments in Indian property market. The list includes the prominent names such as Goldman Sachs, Morgan Stanley, Lehman Brothers and Merrill Lynch.

News Published Under:   Real Estate India |

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