Home / Business and Economy / Bajaj Alts Fund Bags ₹950 Cr for Office Real Estate
Bajaj Alts Fund Bags ₹950 Cr for Office Real Estate
12 Oct
Summary
- Maiden commercial office fund raises ₹950 crore in initial close.
- Fund targets ₹2,000 crore for Grade A office assets development.
- Equity-led approach focuses on value creation with developers.
Bajaj Alternate Investment Management has secured ₹950 crore during the initial closing of its inaugural commercial office real estate fund. This fund aims to amass a total corpus of ₹2,000 crore, which includes a green shoe option, for strategic investments.
The Bajaj Alts Real Estate - Growth Fund I has garnered commitments from a diverse group of investors, including family offices, institutions, and high-net-worth individuals. This marks a significant step for Bajaj Finserv's wholly owned subsidiary.
The fund's strategy centers on developing Grade A commercial office assets within select Indian urban centers. It will utilize equity joint ventures with experienced developers, combining their execution prowess with institutional capital and oversight.
This equity-led approach differentiates the fund from those focusing on lending or acquiring completed properties. The objective is to generate value through the development of office spaces tailored for corporate entities and global capability centers.
