[...] 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. â??They need to juice up their returns,â? Krishna said of the willingness of investors to dabble in relatively high risk Indian realestate. And the valuation issue has hit performances by recent debutantes such as Mumbai-listed Akruti Nirman Ltd.
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