new delhi global financial firms citigroup merrill lynch and de shaw are likely to invest rs 2000 crore or 500 million in the dlf assetsdal real estate investment trustreit according to sources the transaction is likely to be completed by early next week part of dlf group the largest real estate developer in the country dal is focused on buying and managing office spacecurrently dal is a owned by dlf promoters and the listed firm has no equity stake in this firm however as per the plan dlf will also invest 750 million or rs 3000 crore in the reit dal had earlier planned to list the reit but now is going for a private placementdlf spokesperson declined to comment saying that the singapore market regulation didnt allow company to make any comment on the issue as its application for listing of reit was still being scrutinised by the authoritiesdlf assets originally planned to raise 2 billion through its reit called dlf office trust given the downturn in the global financial markets dal has now put on hold its plan to list the reit in the meanwhile it is going ahead with its fundraising plan through the privateplacement route according to sources dlf office trust will now be a private trust raising money only through institutional investors a private trust unlike a public trust is not listed and doesnt have retail participation dlf had originally planned to have 10 retail investors in its reit sources add that dlf was reluctant to go in for the public offering as it felt the share prices may not be able to hold the price on listing even if it were to subscribe fullythe company is now in negotiations with citigroup and merrill lynch apart from ushedge fund de shaw who are likely to put in a combined sum of rs 2000 crore in the trust citigroup is likely to be the lead investor in the transaction according to sources dal would use the funds to meet its debt obligations which are due by the end of march08 real estate developers see reit as an avenue to cash out of property investment dal owns five it sezs purchased from dlf for de shaw this would be yet another exposure into dlf group last year it invested 400 million in dal usbased investment bank lehman brothers too had pitched in with 200 million in dal at that timethe other investor merrill lynch one of the worlds largest securities firm had bought 49 in dlfs seven housing projects for rs 1481 crore or 377 million these projects are spread across the cities of chennai bangalore kochi and indore