IndiaReit to offer $750 million property fund

MUMBAI: Indiareit Fund Advisors, a venture capital firm that counts 3i Group among its investors, plans to raise up to $750 million overseas for what may become the second-largest Indian real estate fund. The Mumbai-based company may begin seeking investors in the United States, Europe, Middle East and Japan by year-end, Ramesh Jogani, the managing director of Indiareit, said Monday. The fund will invest in companies that build apartments, malls and offices in India.