Abu Dhabi Fund Invests in India

---

The Abu Dhabi Investment Authority, one of the world's largest sovereign wealth funds, plans to invest $200 million in India real estate.

ADIA, which manages the surpluses from oil exports for the Gulf emirate, has appointed Kotak Realty Fund, managed by Kotak Mahindra Bank Ltd, to invest the money, according to Reuters. 

ADIA already has investments in India of about $400 million to $500 million. The firm's portfolio includes an 11.22 percent interest in Infrastructure Leasing and Financial Services and a $50 million investment in real estate private equity fund Red Fort Capital.

ADIA typically invests in markets outside the UAE. Between 35 and 50 percent of its portfolio is focused on North America, with about 15 to 25 targeting emerging markets. 

ADIA allocates between five to 10 percent of its portfolio to real estate, primarily investing through third-party fund managers or joint ventures. It has an estimated $400 billion to $600 billion in undisclosed assets, Reuters reports. 

India has been drawing more institutional interest. Recently, the Oman's State General Reserve Fund and the Government of Singapore Investment Corp (GIC) and Temasek committed to invest $200 million in a real estate fund run by the Housing Development Finance Corporation, India's largest mortgage lender, Reuters reports.