Reuters - Indiareit Fund Raises $80M By Exiting Investments

Indian real estate fund Indiareit Fund Advisors, a unit of drugmaker Piramal Enterprises, said it raised 4.4 billion rupees ($80.48 million) by selling three of its investments and expects to raise another $120 million through more exits in the near future, Reuters reported. The Indian property market has proven to be tough for global private equity funds, who were initially captivated by its growth potential, as developers promised double-digit returns but failed to deliver.

ManagersNorth AmericaUSBriefs