| Red Fort Capital, an international private equity firm, has launched its first domestic fund of $250 million (Rs 1000 crore) targeting deals in the real estate space. The fund will focus on land and realty projects worth over Rs 5000 crore in the next one year. |
| The investment will be made in under-valued land for residential, commercial, IT, retail and hospitality projects, focusing on redevelopment projects in Mumbai and affordable housing and land in key urban centres. |
| Subhash Bedi, director, Red Fort Capital Advisors said, “The launch of the domestic fund is in line with our expansion plans for India. We will invest in attractive locations and markets which demonstrate high underlying employment and income growth. We are putting our own capital along with that of investors, in this exciting new venture. The fund will focus more on land banking and land acquisition, which is the key to high investment returns in the real estate sector.” |
| Last year, the company had committed investments to a number of land and real estate projects worth over Rs 7,500 crore, partnering with the Bangalore-based Prestige Group and Indu Projects in Hyderabad. |
| The PE firm’s investments take the form of joint ventures, joint developments, equity and mezzanine capital. The investors in Red Fort Capital include governments worldwide, pension plans, insurance companies, foundations and endowments. |
Source: Business Standard