Clal Finance invests $15m in Indian real estate fund Clal Insurance recently invested $20 million in AIG's $500 million real estate fund

Clal Insurance Enterprises Holdings Ltd. (TASE: CLIS) subsidiary Clal Finance Batucha Ltd. has invested $15 million in a large international real estate fund that is raising $700 million for investing in India.

Other investors in the fund include Merrill Lynch (NYSE:MER), Apollo Advisors LP, and an Indian investment company. The fund plans to invest $3 billion in Indian income-producing property over the coming years.

Clal Insurance has been seeking international investments for its reserves, given the lack of worthwhile investments in Israel. It recently invested $20 million in AIG Inc.'s (NYSE:AIG) $500 million real estate fund, which mostly invests in seafront residential properties.