IIFL has exited three of its real estate investments
IIFL Alternate Asset Advisors, part of the India Infoline group, has exited three of its real estate investments, a senior company official said. The fund said it has realized returns of Rs.140 crore from the investment, beyond regular repayments, whose details it did not disclose.
It had invested Rs.195 crore across these three investments. With these exits, about 30% of the invested capital has been returned to investors, in addition to regular income distributions over the past 30 months said Saurabh Gupta, fund manager at the IIFL group.
The fund has clocked internal rate of returns of 24-28% across these three investments, Gupta added. IIFL Alternate Asset Advisors is housed under India Infoline Venture Capital Fund, the venture capital arm of IIFL group.
This decision has been rolled out after a long time. The main investments will be flowing in once this return policy gets enacted. The investment of this IIFL has three investments has amounted into Rs 195 crore. The invested amount has been given back to the investors along with the regular income through the long 30 months duration.
Source: Mint
IIFL, IIFL Alternate Asset Advisors, IIFL group, India Infoline Venture Capital Fund, Infoline group, Investors
