Reliance Industries is in advanced talks with the New York-based Vornado Realty Trust, one of the world’s top five real estate asset managers, to float a $1-billion plus fund. The proposed fund will acquire and manage properties, mainly in the retail space, across India. People familiar with the development said RIL and the New York Stock Exchange-listed real estate investment trust (REIT) were discussing the possibility of an equal joint venture.
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