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India: Realty developers turn to portfolio managers, PEs as bank funds dry up

Posted on 23 December 2010

From Business-standard.com: Property developers are knocking on the doors of portfolio managers, private equity (PE) funds, non-banking finance companies (NBFCs) and other investors as commercial banks, mostly public sector ones, are tightening lending to real estate firms in the aftermath of the bribe-for-loan scam.
“The number of enquiries from developers has increased in the last couple of months and we expect a good deal flow down the line,’’ says Pradeep Khanna, senior fund manager, portfolio management services (PMS) at ICICI Prudential Asset Management Co. The firm did around half-a-dozen deals with real estate companies last year……………………………………….Full Article: Source

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