Deutsche Bk launches real estate & infrastructure invst biz

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Deutsche Bank has launched its global alternative investment management business, RREEF Alternative Investments (RREEF), in India today.

 

Named the world's largest alternative investments manager, RREEF Alternative Investments has US$91.3 billion (Rs. 3.65 trillion) in real estate, infrastructure and private equity assets under management worldwide as of 31 December 2007. Headquartered in New York, RREEF Alternative Investments employs more than 1,450 investment professionals in 18 cities around the world to help investors meet a wide range of objectives - from diversification, to preservation of capital, to long-term performance.  

 

Operating locally as RREEF India Advisors Private Limited, and based in Mumbai, the new business has been established with an initial team of 6 professionals to provide real estate and infrastructure advisory services to RREEF's offshore funds. The business was formally introduced at a special event hosted by Kurt Roeloffs, CEO of RREEF Asia Pacific; and Kishore Gotety, Country Head of RREEF India Advisors Private Limited.

 

Gunit Chadha, Managing Director and CEO, Deutsche Bank, India, while welcoming RREEF Alternative Investments to the Deutsche Bank fold in India said, "Deutsche Bank offers world class solutions for our corporate, institutional and individual clients in India, and I am proud to add RREEF, the world's leading alternative investment management organisation to our platform. RREEF's inclusion will enable Deutsche Bank to further embed ourselves into the growing financial services sector in India."

 

Headed by Roeloffs, RREEF Alternative Investments has been operating in the Asia Pacific region for over a decade. "India is a particularly attractive emerging real estate and infrastructure market for our high return-oriented offshore clients," he said. "I am confident that over time India will become an important investment destination for RREEF's broader base of institutional, insurance and retail clients. We have plans to invest over US$1 billion in India across the real estate and infrastructure sectors over the next 3 years."

 

Under Gotety's leadership, RREEF has already committed to invest in two large real estate transactions in the country's high growth cities of Hyderabad and Bangalore. Both investments are through joint ventures with market-leading local partners. The first acquisition, announced in January, saw RREEF take a stake in Bangalore and Hyderabad-based residential real estate development company, Golden Gate Properties Ltd, for US$70 million (Rs. 2.79 billion).

 

Today, RREEF further announced it has taken a 60% stake in a joint venture with NCC Urban Infrastructure Limited.

 

The partners will develop a US$400 million (Rs.16 billion) mixed use project on a 31 acre site located along Phase 1 of the Outer Ring Road connecting the IT zones of Madhapur and Gachibowli to the New International Airport at Shamshabad, in west Hyderabad.

 

"India continues to offer attractive investment opportunities, given the long-term fundamentals of both the Indian real estate and infrastructure sectors. Healthy and sustained economic growth, a strong currency, favourable demographic profile and rising incomes certainly position India amongst the world's most attractive investment destinations," commented Gotety. 

 

Sourced From: Sampark Public Relations Pvt Ltd