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    ICICI plans $400-mn realty platform

    ICICI Prudential Asset Management Co. (AMC)
    In a recent development, ICICI Prudential Asset Management Co. (AMC) Ltd, the asset management joint venture of ICICI Bank Ltd and UK‘s Prudential Plc., has decided to set up a real estate investment platform with an initial amount worth $400 million, said sources, adding that the AMC already has significant assets under management (AUM) in the mutual fund segment. It also caters to portfolio management services for investors spread across the country, along with advisory mandates for clients across international markets in asset classes such as debt, equity and real estate. ICICI Prudential AMC is setting up a real estate platform in partnership with overseas real estate-focused asset management companies. They are in talks with at least a couple of overseas asset managers and the talks are expected to be concluded soon. The platform will see the AMC and its foreign partners and that the platform will invest equity and debt instruments in residential projects.
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