Rs 750-crore realty fund raised by IDFC Alternatives
IDFC Alternatives raised its first fund of Rs. 750 crore focused on residential sector in India. IDFC Alternatives is a wholly owned subsidiary of IDFC Ltd. The fund is called IDFC Real Estate Yield Fund and will invest Rs 60-80 crore and will target gross returns of 22%. It is a four year close-ended private equity fund that will invest in projects across six cities.
MK Sinha, managing partner & chief executive officer, IDFC Alternatives adds that it is the first real estate fund for the company and they are very confident on its performance.
IDFC Alternatives has an established multi-asset class platform comprising three asset classes i.e. Private Equity, Infrastructure and Real Estate. The three distinct asset classes offer a range of risk return profiles to the investors. The company has four funds under management aggregating USD 2.2 billion which makes them India’s second largest Alternative Asset Manager.
Source: The Economic Times
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