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UK private equity fund Actis is in the process of setting up a $250-300 million real estate fund focused on India, reports Business Standard. The firm had recently hired Chanakya Chakravarti, the ex-joint managing director of Cushman & Wakefield, under whom a team is being set up. The report adds that fund is doing road shows for fund raising among investors in the US, Europe and West Asia, and they have already achieved the first closure at $100 million. The fund is registered in Mauritius.
Besides the real estate fund, Actis is planning to raise a $3-4 billion private equity fund globally, which will have a $1 billion allocation for India. Actis is one of oldest buyout funds in India with an aggregate investment of $700 million in India. It recently exited Punjab Tractors, while its other portfolio companies include Jyothi Labs and HDFC, to name a few.