Trump's son to bet billion on Indian building boom

Donald Trump Jr, whose father built a multibillion dollar fortune in real estate, plans to set up a fund of as much as $1 billion to buy property in India, betting on the nation's growing wealth.

Trump may create the privately held fund with investors including an Indian family, he said in a telephone interview from New York. He didn't give specifics on how he'll raise the money, or when the first investment will be made.

Trump would join Deutsche Bank AG and Lehman Brothers Holdings Inc in amassing funds to invest in a market that recorded the world's highest growth in millionaires last year, fueling demand for luxury homes.