Real estate
Red Fort boosts 3C Gurgaon project with $30m
Private equity firm Red Fort Capital Advisors has injected INR1.5 billion ($30 million) into a residential project designed by developer 3C Company in New Delhi, India.
Paracor to launch $200m real estate fund
Mauritius private equity firm Paracor Capital Advisors plans to launch an INR9.87 billion ($200 million) fund, which will invest in real estate projects in the seven top cities in India.
Blackstone, Carlyle agree $4b Reliance Infratel buyout
The Carlyle Group and The Blackstone Group have signed a term sheet to buy up to 95% of Reliance Communications’ telecoms tower unit, Reliance Infratel.
CIC loses real estate head after just two months
Patrick Wu, head of real estate at China Investment Corp. (CIC), resigned last week after just two months in the job. It follows others changes at senior management level in the sovereign wealth fund's real estate division.
CPPIB in $1.8m mall deal with Australia’s Westfield
Canada Pension Plan Investment Board (CPPIB) has bought a 45% stake in a portfolio of 12 US malls from Australian shopping mall owner Westfield Group for around $1.85 billion. It is CPPIB’s biggest real estate investment to date.
COLI, ICBC raise $230m for second China property fund
China Overseas Land & Investment (COLI) and ICBC International Investment Management have raised $230 million in initial capital for their Harmony China Real Estate Fund II. The vehicle's full target is $500 million.
Sun-Apollo invests $15m in Indian housing project
Sun-Apollo India Real Estate Fund has invested INR750 million ($15 million) for a 49% stake in a housing project run by real estate developer Assotech in Gurgaon, India.
IndiaHomes secures $4 million from existing VC backers
IndiaHomes, a Delhi-based property services company, has received $4 million from existing venture capital backers. The firm is seeking to raise another $6 million in the coming fiscal year.
PICC rolls out $158m industrial fund
The People's Insurance Company of China is reportedly setting up an industrial fund - the name of which suggests it will focus on the defense sector - worth RMB1 billion ($158 million) under its affiliate PICC Capital Investment Management.
Baring injects $100m in RMZ India project
Baring Private Equity Partners (BPEP) has channeled INR5 billion ($100 million) into backing RMZ Corp’s acquisition of an office space project in Bangalore.
Portman Holdings opens Hong Kong office
Portman Holdings, an international real estate company, has announced the opening of its Hong Kong office, with the hire of Stanley Chin as a managing director for Greater China.
Jones Lang LaSalle announces new Japan head
Jones Lang LaSalle has announced that Yoichiro Hamaoka will be stepping down from his role looking after Japanese business at the firm, while ex-Goldman Sachs exec Toshinobu Kasai will succeed him.
Carlyle plans to sell part of HDFC stake - sources
Carlyle Group is said to be planning to sell 20 million shares in mortgage lender Housing Development Finance Corp. (HDFC). The exit could generate significant returns from the private equity firm's five-year investment in the mortgage company.
Indian realty valuations to take a hit
The time is ripe for an exit for private equity funds focused on Indian real estate. But can investors keep up the pace without affecting returns?
Advantage Partners to buy Japanese homebuilder
Advantage Partners will acquire Japanese homebuilder Yasuragi in a take-private transaction worth JPY13 billion ($166 million). The private equity firm has agreed to pay JPY627 per share for all outstanding shares in Yasuragi, a 60.8% premium on Thursday’s...
India Infoline raises a $100m real estate fund
India Infoline Venture Capital Fund, the venture capital arm of the India Infoline group(IIFL), has raised a INR5 billion ($100 million) real estate fund. It is the brokerage's first foray into the private equity business.
Red Fort closes second real estate fund at $500m target
Red Fort Capital has completed a final close of its second real estate fund at $500 million, coming mere weeks after the firm said it was targeting this amount from investors.
Singapore property funds look to invest $100m in Indian SEZ
Singapore property funds Ascendas and Mapletree Investments are in talks to commit $100million to a special economic zone (SEZ) near the Indian city of Pune.
Morgan Stanley extends property fund's investment period - report
Morgan Stanley Real Estate Investing has received approval from LPs to increase the investment period of its $4.7 billion property fund, Morgan Stanley Real Estate Fund (MSREF), by one year.
IL&FS invests $39m in Indian real estate project
IL&FS Investment Managers (IIML) has invested INR2 billion ($38.8 million) for a 9.4% stake in a firm that is developing the Bharat Mills real estate project.
India's LIC Housing Finance to raise $96m fund
LIC Housing Finance, the mortgage lender owned by Life Insurance Corp. of India, plans to enter the private equity market with an INR5 billion ($96.5 million) urban development fund. Half of its corpus will go toward equity and equity-related investments...
PE investment in Indian real estate up 69% in 2011
Private equity investment in Indian real estate firms increased by 69% to $2.68 billion in 2011.
Kotak Realty reaps 25% return on Noida IT park sale
Kotak Realty Fund, the properties arm of Kotak Mahindra Bank, has reaped an IRR of less than 30% on the sale of its interest in a Noida-based information technology park.
Mayban Ventures to invest $399m over next five years
Mayban Ventures, the private equity arm of Maybank, Malaysia’s largest financial group, has announced plans to channel up to RM250 million ($399 million) into Asian deals over the next five years.