Reliance Capital Asset Management unit Reliance Portfolio Management Services is planning to raise more than $325.58 million from the domestic market to invest in real estate projects around the country, Economic Times reports. The fund, to be raised via a limited liability partnership structure, will be named Reliance India Realty Opportunities.
Reliance Capital Asset Management-Portfolio Management Services will be the fund’s adviser. Reliance Realty will invest in residential projects in the top seven or 10 metros. The fund will have a time frame of six years that can be extended twice by one year each at the option of managing partner Reliance Realty.
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