Tata Realty initiatives Fund 1: Investors seek an exit

Tata realty and infrastructure, the 100 percent subsidiary of Tata Sons has fast-tracked the process of providing its realty fund investors an exit, albeit at 50 percent haircut.

The company may reach out to its group companies or raise further debt for the same. Sources suggest that investors may include Abu Dhabi Investment Authority, Dutch asset manager PGGM, Pension Fund from Australia and Government of Singapore Entity.

The equity value of the fund is expected to be approximately Rs 1,500 crore. Currently, fund assets have a debt of about Rs 3,000 crore.

Management of Tata Realty and Infrastructure says, “We are in the process of providing investors an exit.”