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IIFL raises INR10bn

The Indian asset management firm achieves the first close of its second co-investment fund.

IIFL Asset Management has held the first close of its co-investment fund, India Housing Fund 2, at INR10 billion ($141.4 million; €126.6 million).

The fund has a fundraising target of INR20 billion ($282.8 million; €253.2 million) and will invest alongside with Piramal Group in late-stage real estate projects across tier 1 cities in India.

As of November 2019, IIFL Asset Management has raised a total of $1 billion across its real estate funds.