Och-Ziff makes first Indian investment | FT Alphaville

Och-Ziff makes first Indian investment

As India considers letting hedge funds set up shop in the country in the first half of next year, some funds are already taking advantage of opportunities on the sub-continent.

The Economic Times of India reports that Och-Ziff, one of the largest hedge funds globally, is close to taking a 25 per cent stake in Bangalore-based Nitesh Estates in what would be its first investment in India (via Opalesque).

The stake in the property firm, which is developing a five-start hotel in Bangalore and a special economic zone in Mangalore, is worth about $55m to $60m.