IL & FS PE : Launch third India realty fund, targets $ 50 crore

IL & FS Investment Managers Ltd (IIML), the India’s largest homegrown PE (private equity) firm by assets under management (AUM), is scripting a new realty fund.

The public-listed PE fund manager, which has AUM of $320 crore, will launch the IL & FS India Realty Fund (IRF) III with a targeted corpus of  $ 50 crore in the current financial year.

The targeted size of the new fund is much smaller than the second fund called IRF II, which raised a humongous $ about 90 crore. IRF II was launched in 2007 and had a target corpus of $ 75 crore. But it managed to raise a higher corpus when the market was at its peak. The second fund has managed gross returns of about  20% per year across 2 divestment.

The firm had raised its maiden realty fund IRF I in 2006 with a corpus of $ 52.5crore, which was fully invested. From the second fund, it has invested in more than 30 deals, spanning projects  pan India.

Now, IIML  has 6 real estate funds with $ 200 crore under management. Besides its own funds, it operates a few joint venture real estate funds including IL & FS Milestone Funds I & II, along with Milestone Capital.

 Shareholder and Investor Relations

Mr. Sanjay Mitra
IL&FS Investment Managers Limited
The IL&FS Financial Centre, 1st Floor,
Plot No. C - 22, G Block, Bandra Kurla Complex,
Bandra (East), Mumbai - 400 051
E-mail: investor.relations@ilfsindia.com
Tel : +91 22 2659 3531 Fax : +91 22 2653 3056

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