ICICI Venture Funds Management Ltd, private equity arm of ICICI Bank Ltd, is floating a $2 billion real estate fund next month, reports quoting its chief executive said.
The new real estate fund will have a tenure of 10 years and the money will be invested in projects within three years, the report quoted Renuka Ramnath, managing director and chief executive of ICICI Venture, as saying.
ICICI Venture manages assets of more than $2 billion and had raised a $550 million real estate fund earlier. It has a strategic long-term joint venture with Tishman Speyer Properties in India.(Domain B)