| Abu Dhabi Investment Authority (ADIA) plans to invest about $200 million in Indian real estate, two sources said, underscoring a trend for large Gulf sovereign wealth funds to diversify away from traditional developed markets such as Europe.
ADIA, which manages the surpluses the Gulf emirate earns from oil exports, has appointed Kotak Realty Fund, run by Kotak Mahindra Bank Ltd, to invest the money, one of the sources familiar with the matter said. Earlier this month, Oman's State General Reserve Fund and the Government of Singapore Investment Corp (GIC) and Temasek committed to invest $200 million in a real estate fund run by India's biggest mortgage lender, Housing Development Finance Corporation...............................................Full Article: Source |