Abu Dhabi Investment Authority (ADIA), one of the world's biggest sovereign wealth funds, plans to invest directly in Indian real estate in an effort to diversify from its current strategy of ploughing money into the country through realty or private equity funds, sources familiar with the matter said.
ADIA's investments in Indian real estate to date total $400 million to $500 million, largely through property and private equity funds, and the fund is now scouting for direct investment opportunities, one of the sources said.
The sovereign fund, whose assets range from Citigroup bonds to a stake in Britain's Gatwick airport, is close to hiring a country-dedicated fund manager from a large private equity firm to look for real estate opportunities in Asia's third-largest economy, the sources said.
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