Private Equity Fund Raises 170 crore for Realty Fund
In what can be termed as good news for the Indian real estate sector, Milestone Capital advisors, a well known private equity fund that invests in realty projects has managed to raise nearly Rs. 170 crore for its structured debt fund. Milestone Capital advisors plan to raise a total of Rs. 500 crore in the next six to eight months for its fund titled Milestone Opportunities Fund 10. The fund has a strong presence in Gujarat hoping to raise a further amount of Rs. 80 to Rs. 100 crore for the fund from the state of Gujarat alone.
Milestone Capital Advisors have a total of 16,500 investors with nearly 5000 investors from Gujarat alone. The company has a total of Rs 3,700 crore assets under its management invested in various funds. Milestone Opportunities Fund 10 will be investing in real estate projects in five major metro cities including Delhi NCR, Mumbai, Chennai, Bangalore and Pune. Milestone Opportunities Fund 10 aims to generate return (IRR) upwards of 22-24 per cent through a combination of structured debt and equity making it an attractive investment opportunity.
The company has shortlisted the mid-sized residential apartments for middle income groups as the ideal segment for investment as the increasing gap between supply and demand in residential housing is likely to be filled in the near future. Milestone Capital Advisors is a well known company managing eight private equity funds. The company also holds the distinction of operating India’s first REIT (real estate investment trust) along with investments in various bullion products and portfolio management systems.
Source: Business Standard
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