Home / Business and Economy / NCW Fund Surpasses Rs 4,000 Crore Goal
NCW Fund Surpasses Rs 4,000 Crore Goal
8 Jul
Summary
- NCW's PRIME Offices Fund successfully closed at Rs 4,000 crore.
- The fund exceeded its initial fundraising target of Rs 3,000 crore.
- Forty-five percent of capital is already allocated to office properties.
The NCW PRIME Offices Fund, a collaboration between Nuvama and Cushman & Wakefield, has successfully concluded its fundraising, securing approximately Rs 4,000 crore from investors. This final close significantly exceeds the fund's original target corpus of Rs 3,000 crore, driven by robust investor demand.
NCW, an equal joint venture between Nuvama Asset Management and Cushman & Wakefield, has already deployed 45% of the raised capital into prime office assets. These investments are strategically located in key metropolitan areas across India, enhancing investor access to institutional-quality commercial real estate.
Officials expressed strong conviction in India's office sector and the fund's investment strategy. The market's growth is underpinned by factors such as the expansion of Global Capability Centres and sustained demand for high-quality workplaces. The PRIME Fund has since its inception developed a portfolio of about 4 million square feet of office spaces.
