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. [...] Chief Investment Officer Hari Krishna, who has already invested in a domestic $100-million fund raised, says the new seven-year fund will close next month. And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd. â??They need to juice up their returns,â? Krishna said of the willingness of investors to dabble in relatively high risk Indian realestate.
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