Larsen & Toubro, the diversified engineering to IT company, is entering the private equity space with a staggering Rs 4500 crore ($1 billion-plus) fund that will invest in real estate-related infrastructure projects. L&T is the latest industrial house to set up a realty fund for investing in the country’s booming real estate sector. Modeled on the lines of Kishore Biyani-promoted Future Capital’s Kshitij, L&T’s real estate fund has an anchor investment of about $200 million, through its subsidiary L&T IDPL (Infrastructure Development Projects), a source familiar with the plan said. India’s largest industrial house, the Tata group has also floated a realty fund with the Xander Group, a global private equity company. L&T’s head of mergers and acquisitions practice N Sivaraman is driving the initiative. The company has reportedly raised the money from US and European markets. […]