IL&FS Milestone Fund plans Rs 150cr investment next month
Quotes

IL&FS Milestone Fund plans Rs 150cr investment next month

Last Updated: Sunday, March 31, 2013, 13:00
 
 Comment 0
 
IL&FS Milestone Fund plans Rs 150cr investment next month
Mumbai: Real estate-focused private equity firm IL&FS Milestone Fund is likely to invest Rs 100-150 crore next month.

"Currently, we are evaluating proposals. Term-sheets are being worked out. We hope to invest around Rs 100-150 crore in April," a company source said.

The investment, targeted at commercial properties, will spread across couple of deals. IL&FS Milestone Fund, which focuses on rent-yielding commercial properties and residential segment, has taken exposure to commercial properties in Mumbai, Kolkata, Pune, Chennai and Bangalore, along with a few mid-segment residential projects.

IL&FS Milestone Fund, a joint venture of IL&FS and Milestone Capital, has two funds -- IL&FS Milestone Fund I (Rs 525 crore) and IL&FS Milestone Fund II (Rs 525 crore)-- with a mandate to invest in commercial office spaces and IT parks.

The source also said the fund house is planning to exit some investments in the next few months.

About the plans of Milestone Capital promoters to exit the venture, the source said talks are underway.

He, however, said despite the plans to divest stake by promoters, investment would continue from the fund house. It is to be noted that promoters of Milestone Capital along with Religare recently agreed to sell 100 percent stake in Milestone Religare Investment Advisors, which has mandate to invest in education and health-related ventures, to Quadria Capital.

PTI



First Published: Sunday, March 31, 2013, 13:00


Comments


comments powered by Disqus
Honda Mobilio MPV
Honda Mobilio MPV
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved