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Abu Dhabi sovereign wealth fund eyes direct investment in Indian real estate

9 Mar 2012

Abu Dhabi Investment Authority (ADIA) is believed to be eyeing up direct investments in Indian real estate rather than relying on private equity funds to invest for it.

Most of the vast sovereign wealth fund’s current Indian real estate investments, which are estimated at between $400m and $500m, are through third party funds, a situation which could soon change according to a report by Reuters.

It said the ADIA is close to appointing an India-dedicated fund manager from a large private equity firm to look for real estate opportunities in the country.

The ADIA, which was formed in 1976, is notably hands-off in its investments and does not seek active management of companies it holds stakes in.

It began investing in alternative assets as early as 1986, and private equity in 1989.

Indian private equity firms themselves made 14 investments in the country’s real estate amounting to £388m during the quarter ending September 2011, according to a study from venture intelligence.

It said the pace of investment was lower than during the same period last year, which could leave the market open for large foreign funds to step in.

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