BlackSoil Realty Fund makes a good maiden investment
Private equity fund BlackSoil Realty Fund–I has completed its maiden investment of Rs. 30 crore in real estate firm Sheth Developers through a mezzanine structure. Promoted by Shashi Kiran Shetty, Chairman and Managing Director of Allcargo Logistics, and Gnanesh Gala, Managing Director of Navneet Education, the fund has its focus on the Mumbai, Navi Mumbai and Thane real estate market and has built in a co-investment structure to aid its investors to take bigger selective bets, the company said in a statement.
BlackSoil’s debut fund recently did its initial closing at Rs. 129 crore and plans to invest the residual amount within the next one-and-a-half years, the statement added. This investment will act as proof of our focus and strategy and help us to raise further funds for our other deals through co-investment structure. The Fund plans to invest in overall 5-6 deals with an average transaction size of around Rs. 20-40 crore each as stated by Mohinder Bansal who is the Managing Partner of BlackSoil Realty Investment Advisor LLP.
This work will be helping the realty fund company in its upcoming business deals.
Source: The Hindu Business Line
BlackSoil Realty Fund, Chairman and Managing Director of Allcargo Logistics, Gnanesh Gala, Managing Director of Navneet Education, Mumbai, Navi Mumbai, Private Equity fund, Real-estate market, Shashi Kiran Shetty
