JPMorgan, Morgan Stanley put India realty investments on hold

JPMorgan could not scale up real estate investments in India the way they wanted: Sources

At a time when US-based KKR and Blackstone are pouring millions of dollars in Indian properties, JPMorgan and Morgan Stanley, two of the biggest American banks, have put on hold their private equity (PE) investments in Indian real estate.

Though PE funds of most global investors such as Wachovia, Merrill Lynch, Citigroup either exited or became dormant in Indian real estate after Lehman Brothers crisis in 2008, JPMorgan and Morgan Stanley continued and were looking to raise new property funds.

JPMorgan, sources said, could not scale up real estate investments in India the way they wanted. For instance, they could raise half