Chillin' out till it needs to be funded
DAPL raised $450 million from Symphony Capital, a London based investment firm in May this year.
DLF Assets (DAL), the property fund of DLF, will raise around $450 million from a cluster of private equity investors including JP Morgan Asset Management, Texas Pacific Group and others, reports CNBC-TV18, quoting investment banking sources. An email sent to TPG spokesperson did not elicit any response till the time of writing this report.
The DAL PE deal, in which JP Morgan and Texas Pacific will together put in $200 million, is likely to be signed in the next few days, and DAL will receive money by January-end, sources added, adds the report.
DAL owes Rs 4,804 crore to DLF as on September 30, 2008 and was targetting capital raising to the tune of $400–500 million.