ICICI Bank’s private equity arm ICICI Venture is reportedly planning to raise $1bn across a pair of funds targeting infrastructure and special situations.
AION, the special situations fund, is a $500m joint initiative alongside buyout house Apollo Global Management according to the Economic Times, which cited two people with knowledge of the fund’s plans.
That fund had already raised $325m in January according to a previous report.
The fund, ICICI Prudential PMS Real Estate Portfolio is reportedly seeking INR 7bn ($127m), which will gain returns from rental yields.
ICICI Prudential AMC started its real estate investment series portfolio under ICICI Prudential AMC-PMS in 2007.
It also manages the India Opportunities Real Estate Fund (IOREF), an offshore product with committed capital of $80m.
Copyright © 2013 AltAssets