MUMBAI, Jan 8 (Reuters) - Indiareit Fund Advisors, the real estate private equity arm of India’s Piramal Enterprises , has raised 10 billion rupees ($160.5 million) from investors within the country, the company said.
The domestic fund targets investments which will provide structured returns, Indiareit. The fund would invest in property assets in the top metro cities in the country, Indiareit said.
The property fund manages about 43.43 billion rupees ($696.9 million) across five earlier funds and two third party mandates.
$1 = 62.3200 rupees Reporting by Indulal PM; Editing by Anand Basu