The move is aimed at overcoming the cash crunch, following a slowdwon in property sales, banks curtailing loans and high lending rates. Other property companies are also following a similar strategy.
Peninsula is targeting to boost its funds under management to $800 million (Rs 3,360 crore) from $400 million.
The company will float both domestic and offshore property funds, which will invest in the company's projects and invest in other companies' projects going forward, according to a senior company executive.
"Three years down the line, most of that is disbursed and we will look at the second round of fund-raising,'' said the executive, who declined to be identified.
PLL's Peninsula Realty Fund has already floated two funds
