Kotakâ??s first fund joined private equity group Warburg Pincus by taking a $10-million stake Lemontree Hotels, a new firm that is building business hotels across India. And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd. This unit of Indiaâ??s Kotak Mahindra Bank hopes to attract pension funds and other institutional investors, mostly from Europe, with an internal rate of return target of around 25%. The tactic has also been pursued by the realestate arm of US investment bank Morgan Stanley, which has [...]
Malibu Real Estate

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