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US Funds To Spend Nearly $3B in India

MUMBAI-Two of America's largest funds--Apollo and Tishman Speyer--are looking to invest $2.5 billion in Indian residential and office property.

By Anita Howarth | Updated on June 27, 2006

(To read more on the debt and equity markets, click here.)

MUMBAI-Apollo Real Estate Advisors and Tishman Speyer plan to pour a total of $2.5 billion in Indian real estate over the next five years. John Jacobsson, managing partner of Apollo, told the Reuters Real Estate Summit that his firm was looking to raise $500 million from investors and an additional $1 billion through loans to invest in the sub-continent.

“There’s a flood of capital going into places like India and China,” he stated. “We decided to focus our attention on India. ” Jacobsson added that India’s rapid economic development, established banking system and widespread use of English has made the Asian country an attractive investment location for the New York-based company.

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