Deutsche Bank has launched its global alternative investment management business Rreef Alternative Investments in India with the opening of Rreef India Advisors in Mumbai with an initial t
Deutsche Bank has launched its global alternative investment management business Rreef Alternative Investments in India with the opening of Rreef India Advisors in Mumbai with an initial team of six professionals providing real estate and infrastructure advisory services to the group’s offshore funds.
New York-based Rreef Alternative Investments employs more than 1,450 investment professionals in 18 cities worldwide and had USD91.3bn in real estate, infrastructure and private equity assets under management worldwide at the end of last year.
‘Deutsche Bank offers world-class solutions for our corporate, institutional and individual clients in India,’ says Gunit Chadha, managing director and chief executive of Deutsche Bank in India. ‘I am proud to add Rreef, the world’s leading alternative investment management organisation, to our platform. Rreef’s inclusion will enable Deutsche Bank to further embed ourselves into the growing financial services sector in India.’
Rreef Alternative Investments has been operating in the Asia-Pacific region for more than a decade. ‘India is a particularly attractive emerging real estate and infrastructure market for our high return-oriented offshore clients,’ says Kurt Roeloffs, chief executive of Rreef Asia Pacific.
‘I am confident that over time India will become an important investment destination for Rreef’s broader base of institutional, insurance and retail clients. We have plans to invest more than USD1bn in India across the real estate and infrastructure sectors over the next three years.’
Under the leadership of Kishore Gotety, country head of Rreef India Advisors, the firm has already committed to invest in two large real estate transactions in the country’s high-growth cities of Hyderabad and Bangalore through joint ventures with local partners.
The first acquisition, announced in January, saw Rreef take a USD70m stake in Bangalore- and Hyderabad-based residential real estate development company Golden Gate Properties. It has just taken a 60 per cent stake in a joint venture with NCC Urban Infrastructure to develop a USD400m mixed-use project on a 31-acre site between the IT zones of Madhapur and Gachibowli and the new international airport at Shamshabad in west Hyderabad.
‘India continues to offer attractive investment opportunities, given the long-term fundamentals of both the Indian real estate and infrastructure sectors,’ Gotety says. ‘Healthy and sustained economic growth, a strong currency, favourable demographic profile and rising incomes position India amongst the world’s most attractive investment destinations.’
