On Thursday last week, IL&FS Investment Managers, the country's main PE fund manager, said it had completed fascinating the Saffron group, a new Mumbai-based fund house which managed a combine of real estate funds. Following the merger, IL&FS’ assets beneath management went up from $2.8 billion to $3.2 billion (Rs 14,400 crore).
Blackstone, the global PE major, is probable to take over the management of $4 billion worth of Bank of America Merril Lynch's Asian real estate business this week, which take in $500 million (Rs 2,250 crore) of Indian possessions.
Religare Enterprises, endorsed by Malvinder Singh and Shivinder Singh, is in the final stages of acquire Indiareit Fund Advisors, part of the Ajay Piramal group, which manages real estate funds worth $1 billion (Rs 4,500 crore), said an managerial close to the progress.
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