One Of The Largest Investments Made By JP Morgan

Realty focused private equity funds are committing big money, when it comes to project financing. And so far JP Morgan's USD 360 has made its largest investment so far in an IT park in Navi Mumbai. The fund will invest Rs 100 crore or over USD 25 million in the development. It is said that JP Morgan's property fund will buy 40% in the 4.5 million sq ft IT Park and will be developed by B Raheja Group. The B Raheja Group recently received an investment of USD 45 million from US-based investment banker Wachovia, for two projects in Bangalore. And JP Morgan's realty fund has invested USD 10 million each in Hyderabad-based Modi Developers and Chennai based Arihant Foundations for middle-income group housing. The fund is also about to finalise an investment in an IT-***-residential complex in Kolkata's new town Rajarhat with Unicon Builders
Source: 12 Oct 07 moneycontrol.com