|Tata Capital, financial services arm of Tata Group, is in talks with Oman's sovereign wealth fund, State General Reserve Fund (SGRF), to raise money for its real estate fund, said a source. The source added Tata Capital could raise as much as $300 million (Rs 2,000 crore) from the Oman fund but this could not be verified.
If it happens, it would be one of the largest in fund raising from an overseas entity in the country this year. Last year, Oman SGRF, with other investors, gave $375 mn to the offshore fund of HDFC Property Fund. Tata Capital was also in talks with large US investors but this did not finally go ahead, said sources. E-mails to Tata Capital and Oman SGRF did not get a response. Tata Capital is also looking to raise $900 mn across its two funds, Growth Fund and Opportunities Fund...............................................Full Article: Source