Saffron Advisors ties up $700-m funds

Saffron Asset Advisors, a private equity player, is planning to launch three new funds -- in hospitality, logistics and infrastructure -- by early 2010. Ajoy Veer Kapoor, founder and managing director, Saffron Asset Advisors told FE, “We are planning a $500 million infrastructure fund, and will introduce $200 million hospitality and logistics funds. We will source funds through foreign direct investments (FDIs).” The company plans to enter into real estate deals in cities such as Mumbai, Delhi, Tirupur and Vishakhapatnam, among others, and will hold talks with real estate majors such as Unitech, DLF, Indiabulls and the Lodha Group. With the 30% fall in the capital markets since January this year, more and more firms are looking at private equity as an alternative fund-raising source. During the first seven months of 2008, PE firms invested $7.44 billion across 248 investments in India.