Industrialist Anil Ambani has quietly entered the fledgling Indian private equity space. His financial services arm Reliance Capital has launched a wholly-owned subsidiary Reliance Equity Advisors (REAL) to offer the entire bouquet of private equity services. Ramesh Venkat, group CFO of the Anil Dhirubhai Ambani Group (ADAG) has been given the additional responsibility of spearheading REAL. REAL has put in place a 15-member advisory team and received regulatory approval to build an initial corpus of $1 billion. Of this, ADAG will contribute 15-20 per cent while the balance will be mobilised by two linked funds, one based in Mauritius and the other in India. Mr Venkat told ET that REAL has started talking to investors to put together a $1billion fund. “The initial response has been very good. There is good investor appetite for our fund. We expect to close the fund in a few months,” he said. Mr Venkat is a director of REAL. Mr Venkat said the fund will focus on sunrise sectors such as services, logistics, realty and pharma. The ticket size of investment will be $15-100 million. […]