Saturday, May 7, 2011

ICICI Prudential AMC Invests in Residential Projects

Saturday, May 7, 2011

BANGALORE -- ICICI Prudential AMC has invested 800 million rupees ($17.9 million) in a residential project of Noida-based Logix Group from its first real-estate fund.

The asset manager is set to invest an equal amount in Adarsh Group residential project in Bangalore.

Both investments are being made from its 8 billion rupees ($179 million) fund, called India Opportunities Real Estate Portfolio, which is focused on residential and, selectively, office-space developments, said Pradeep Khanna, senior fund manager at ICICI Prudential AMC.

"Our preference is for residential, but not very large townships," he said.

"We also look for projects where we can ...

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