IL&FS announces closure of India Realty Fund-II

Mumbai: IL&FS Investment Advisors LLC, a 100 per cent subsidiary of IL&FS Investment Managers Ltd, has announced the first close of IL&FS India Realty Fund-II at $578 million, with a final close target of $750 million.

IL&FS Investment Managers Ltd proposes to invest in the entire array of real estate space, across Tier-I and Tier- II cities.

“The investment team has seen opportunities across various sectors ranging from residential, retail, commercial, redevelopment, to hospitality, and hence has the experience and the confidence to access prudent investments across all sectors in this space,” said Mr Shahzaad Dalal, Vice-Chairman & Managing Director of IIML.