India: IIFL arm to raise $500m for maiden offshore affordable housing fund

India: IIFL arm to raise $500m for maiden offshore affordable housing fund

A vehicle drives past residential buildings in India's financial capital Mumbai January 27, 2010. REUTERS/Punit Paranjpe

IIFL Asset Management Ltd will begin raising its first offshore affordable housing fund of up to $500 million in the next financial year, a top company official said, even as it continues to raise a similar $500 million fund mostly from domestic investors.

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