Reuters logo
India Infoline raises $117 mln fund
January 29, 2014 / 11:06 AM / in 4 years

India Infoline raises $117 mln fund

MUMBAI, Jan 29 (Reuters) - IIFL Private Wealth, the wealth management arm of financial services company India Infoline has raised about 7.35 billion rupees ($117.3 million) to invest in the property sector, the Mumbai-based firm said on Wednesday.

Indiareit, the real estate private equity arm of Piramal Enterprises will manage the fund, India Infoline said in a statement.

The fund will have an option to co-invest another 5 billion rupees, it said.

This would be a closed ended fund with four-year tenure and an 18 month deployment period, the company said. The fund will target gross returns in the range of 22-24 percent and an equity commitment of 500 million rupees to 750 million rupees per transaction.

U.S. private equity giant Carlyle Group holds a 9.73 percent stake in India Infoline. ($1 = 62.6550 rupees) (Reporting by Indulal PM; Editing by Anand Basu)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below