Indian billionaire Uday Kotak's property fund to raise US$200m
It will invest in residential markets in India's top cities
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[SINGAPORE] Kotak Investment Advisors Ltd, which manages US$1 billion in real estate assets, plans to raise US$200 million for a private equity fund that will invest in residential properties in India's biggest cities.
The company, owned by billionaire Uday Kotak, raised US$200 million from overseas investors last year for the fund and will complete raising a similar amount by May this year, said V Hari Krishna, a director at Kotak Investment.
The fund will invest in residential markets in cities including Mumbai, Delhi, Bangalore and Pune, he added.
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