Quantum fund buys stake in real estate developer Ansal API | INRnews
New Delhi, November 14, 2006 - The Quantum Fund promoted by George Soros has purchased 1% of real estate developer Ansal API for Rs 25 crore. The purchase has been made from the secondary markets. Ansal API has very recently raised Rs 175.8 crore through a 5% private placement with Citigroup. The HDFC Realty Fund has also invested Rs 50 crore in Ansal API.
This is the third investment in the Indian real estate market for a Soros entity. Earlier investments include two tranches in real estate developer Anant Raj Industries.
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By INRnews Correspondent
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