UBS lines up $1-b India-specific real estate fund for year-end launch

UBS Global Real Estate, the real estate arm of global financial services powerhouse UBS Global Asset Management, plans to launch a $1-billion India specific real estate fund by the end of this year. The company has tied up with Mumbai-based real estate developer K Raheja Corp to finance various real estate projects across the country.
UBS Global Asset Management is one of the three business groups of UBS, the other two being Global Wealth Management & Business Banking, and the Investment Bank. UBS Global Real Estate has invested nearly $50 billion in assets till March 2007 and has around 360 employees and 13 offices around the world.