Monday, December 14, 2009

Birla Sun Life realty funds targeting distressed assets

Birla Sun Life Asset Management, a part of the Aditya Birla Financial Services Group, is launching two seven-year real estate funds. These funds will invest in distressed real estate assets in western and southern parts of India.

Birla Sun Life Asset Management expects to invest in projects where the developers are stuck for want of liquidity. Several real estate developers in cities such as Bangalore, Hyderabad and Chennai have overstretched themselves by undertaking a greater number of projects than their financial position permitted.

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