The Blackstone Group Lp, the US-based global private equity firm, is in talks to acquire ILFS India Realty Fund I, a $525 million real estate fund owned by IL&FS Investment Managers Ltd (IIML), two persons aware of the development said. The deal will be signed through Blackstone India Real Estate Advisors, the Indian realty arm of the New York-based Blackstone. ILFS India Realty Fund I, one of the first real estate focused funds in India, was launched in 2005. Several of IL&FS real estate funds are in exit mode - including the $117-million IL&FS Milestone Fund I and $103-million Saffron India Real Estate Fund I. Most key initiatives, such as the Real Estate Regulatory Authority (RERA), the Goods & Services Tax (GST) and Real Estate Investment Trusts (REITs) are primarily aimed at improving transparency and boosting investor confidence in India’s real estate sector at large, said a June 2017 JLL India report.

Source: Mint July 13, 2017 19:07 UTC