Piramal PE closes Rs 1k cr realty fund

The Piramals-backed private equity fund, focused on realty sector, on Wednesday said it has finished raising a Rs 1,000-crore fund and has already committed Rs 250 crore from the corpus in three projects.

Indiareit Fund Advisors’ Domestic Scheme V achieved its basic fund size of Rs 750 crore last November, including the green-shoe option of Rs 1,000 crore in December.

“We have committed 25 per cent of the corpus already and continue to build pipeline of opportunities,” Indiareit MD Khushru Jijina said.

The fund invested Rs 100 crore in a joint venture in Gurgaon, the statement said.     Two other transactions include a Rs 60 crore investment in a residential project in Mumbai and Rs 90 crore in a Bangalore project.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry