Jones Lang LaSalle is planning to raise a new realty fund. The main focus of JLL’s Rs.1200 Cr realty fund will be commercial sector.
BANGALORE: Late last year Jones Lang LaSalle launched a private equity fund. The PE fund collected Rs.300 Cr. Now JLL is looking forward to raise another realty fund for investing in the commercial realty.
If JLL collected Rs.300 Cr for investing in the residential sector, the new fund, which is four times bigger than the first, will be invested in the commercial realty.
Rs.1200 Cr realty fund is expected to be launched by the 2013-end. Their first fund was invested in Bangalore. JLL invested the amount in two residential projects.
Though the new fund is expected to be invested in the commercial sector, details are not available. Sources with direct knowledge say that the decision is not yet taken as to whether the investment should be domestic or offshore.
While senior executives of JLL could not be contacted for comments, a person with direct knowledge commented that the investment will be in the commercial sector. He added that the real estate consultants are looking for higher returns from their investment and for this commercial realty is better now. Continue reading