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Piramal's PE arm betting big with new funds, more exits

The PE firm which has Rs 4,900 cr of AUM is set to close its latest Mumbai Redevelopment Fund by this week

Unperturbed by the exit of its senior executives, Ajay Piramal-owned realty PE firm Indiareit Advisors is on an expansion spree with launching new funds and about 12 exits in next one year. The PE firm which has Rs 4,900 crore of assets under management (AUM) is set to close its latest Mumbai Redevelopment Fund by this week. In an interaction with Business Standard, Ajay Piramal, chairman, Indiareit Advisors said, "Our fundraising plans are very much on track. We are closing our Mumbai Redevelopment Fund this week by raising Rs 400 crore. Like any other PE fund, our initial priority is ...