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Mumbai: ICICI Venture
Funds Management Ltd, private equity arm of ICICI Bank Ltd, is floating a $2 billion
real estate fund next month, reports quoting its chief executive said. The
new real estate fund will have a tenure of 10 years and the money will be invested
in projects within three years, the report quoted Renuka Ramnath, managing director
and chief executive of ICICI Venture, as saying. ICICI
Venture manages assets of more than $2 billion and had raised a $550 million real
estate fund earlier. It has a strategic long-term joint venture with Tishman Speyer
Properties in India.
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