Abu Dhabi Sovereign Wealth Fund Giant Boosts Indian RE Exposure
Sovereign wealth funds continue their devoted push into residential Indian real estate. The Abu Dhabi Investment Authority (ADIA), a massive sovereign wealth fund, is allocating US$ 250 million in Hines India Real Estate. The Indian division of Hines formed a strategic alliance with the Abu Dhabi Investment Authority to invest in metropolitan residential areas across India. Cities like Delhi and Mumbai are prime targets. This deal marks the sovereign wealth fund’s first direct real estate venture with a developer in India. By backing Hines, the sovereign wealth fund is positioning themselves with a company that has operating experience in many developing markets. Earlier in the year, ADIA invested US$ 300 million in an offshore vehicle of Kotak Realty Funds, managed by Kotak Mahindra Bank.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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