THE celebrity-backed property fund manager aAIM is to launch a $2bn (£1bn) property fund focused on the Indian market. Daily Telegraph (Sat)
The fund manager, which has assets of £3bn under its management, is in the process of raising $100m of seed equity for the fund, which is expected to have an end value of about $2bn.
It is understood that the group is also looking at developments around Bangalore, Chennai and Hyderabad.
The fund will target an investment of $500m in its first year. It will have an eight-year lifecycle, with two years to invest the funds, a five-year hold period and a year for disposal.