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Mumbai , June 23

ANAND Rathi group, which is into financial services, today announced its foray in real estate private equity with the launch of the `Real Estate Opportunities Fund'.

It is a close-ended fund for domestic and overseas investors with a targeted corpus of Rs 500 crore, a release from Anand Rathi group said.

The fund would focus on acquiring secured rental income producing real estate assets with quality blue chip tenants and picking up equity stakes in specific real estate projects being developed by reputed developers.

The Anand Rathi Realty Fund will invest in equity and equity-linked instruments of real estate companies and focus on growing markets in India such as Pune, Bangalore, Hyderabad, Chennai and other cities that are witnessing substantial urban development.

Commenting on the launch, Mr Amit Rathi, Managing Director, Anand Rathi Securities, said: "Due to the local nature of real estate and complexity of transactions, it's not easy for an investor to invest on their own in different cities and locations. A real estate fund provides investors a platform to diversify their real estate investments in various markets".

"Our key investment decision variables will comprise the demand supply dynamics, the promoters background and the project fundamentals including a review of the exit options for the fund. The legal and title issues will be a critical area of due diligence for us in setting our investment criteria," said Mr Sumit Anand, CEO, AR Venture Funds.

"Globally, real estate represents a considerable share of fund allocations by long-term institutional investors. In the US, Real Estate Investment Trusts manage over $500 billion in real estate assets," said Mr Anand.

Anand Rathi provides wealth management services, investment banking, brokerage and distribution services in the areas of equities, commodities, mutual funds and insurance.

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