NEW DELHI: London-headquartered financial services major HSBC is set to be the first foreign financial institution to raise an India-focused real estate fund. The banking major is planning to raise $500-600 million for the realty fund, with fund-raising likely to begin in the next few weeks, sources close to the development said.
“The bank is keen on getting a slice of the real estate market in India. However, the mandate of the realty fund would be such that a small portion of the corpus would also be invested in other sectors,” said an industry source.
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Friday, October 5, 2007
HSBC plans $600-m Indian realty fund
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