Lehman Brothers Real Estate Partners (the real estate private equity fund of Lehman) has announced a $175 million stake in a Unitech project on the Western Expressway. Since this news has been extensively covered in the media, I will just provide a few links
Business Standard: Lehman real estate arm to invest Rs740cr in Mumbai
Bloomberg: Lehman to Invest $175 Million in Unitech's Project
NDTV Profit: Lehman to invest $175 mn in Unitech's project
Articles mention that the project will be on the lines of Canary Wharf, London and Battery Park City, New York. One hopes that the project does not go through the boom-bust cycle that plagued Canary Wharf.
On a side note, Deutsche Bank is supposed to have evinced interest in the deal initially and passed on it subsequently.
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