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IIML Closes India Fund at $525M

MUMBAI-India's appeal for foreign investors is highlighted by a new fund launched by IL&FS Investment Managers Ltd. fund. The vehicle is oversubscribed by $225 million.

By Anita Howarth | Updated on August 04, 2006

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

MUMBAI-IL&FS Investment Managers Ltd, a leading private equity fund manager in India, has completed the final closing of its fund with $525 million in equity commitments. The IL&FS Fund, which was oversubscribed, had an initial target size of $300 million. With leverage, the IL&FS Fund will have $1.5 billion of total purchasing power.

IIML was represented exclusively by Presidio Partners LLC, a real estate private equity and advisory firm based in San Francisco. The fund targets the burgeoning Indian real estate market and seeks a gross annual leveraged internal rates of return in excess of 25%.

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