Knight Frank Group, the UK-headquartered global property consultant, is to launch a $250 million India-focused offshore real estate fund. The company is awaiting certain approvals, but has started discussions with potential investors and is appointing a management team.

The fund will raise investments from high net worth individuals and other UK investors and will have an investment threshold of $500,000 and above. The fund-raising is expected to begin by January 2008.

Knight Frank India executive director Keku Cola is expected to head the new fund.

Rutley Capital Partners, Knight Frank’s real estate private equity and investment management arm, is expected to spearhead the launch. RCP has two property funds – Rutley European Property Fund and Rutley Russia Property Fund. Knight Frank also has an Africa-focused fund. India will be the fourth fund.

Knight Frank India has been operating for more than a decade and has four offices in Mumbai, Gurgaon, Pune and Bangalore.