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« IIML Invests Rs 154.35 Cr in RSB Group | Home | Omaxe IPO Opens for Subscription »

Red Fort to Raise $875 mn Fund for Indian Realty

Red Fort Capital, a Cayman Islands-based real estate private equity fund, will raise a whopping $875 million to make large scale investments in Indian real estate.

The fund has already parked big money worth $100 million in real estate projects in Bangalore, Chennai, Hyderabad, and Kochi. The company is also looking forward to dig property investments in Goa, Mumbai, and the NCR which are future plans, informs Subash Bedi, partner, Red Fort Capital. Despite the prevalence of such stringent rules and regulations, Indian property market offers a plethora of opportunities, he adds.

These investments will help the Red Fort Capital join the league of global PE investors. Among these players are Morgan Stanley, Citigroup, Blackstone, and Tishman Speyer who have invested a total over $4 billion in India properties till date.

The increasing interest shown by PE players in Indian realty can be attributed to the lucrative returns in excess of 25% in the country’s properties and future prospects the developed market.

Promoted jointly by Subhash Bedi and Parry Singh, and G B Singh, Red Fort Capital is planning to lay plans for listing a real estate investment trust vehicle on the Singapore Stock Exchange.

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