Sep 05 2014, 01:01 IST
SummaryThe fund will have an upsize option of up to R200 crore and it aims to generate a gross IRR of 24%.
Private equity player Milestone Capital Advisors has launched its 10th fund, envisaging to raise Rs 500 crore, to be invested in mid-segment residential real estate. The fund, Milestone Opportunities Fund 10, in which Tata Investment Corporation is the anchor investor, will have an upsize option of up to Rs 200 crore. It aims to generate a gross IRR of 24% within three-and-a-half years.
Speaking to reporters here on Thursday, Rubi Arya, vice chairman & director, Milestone Capital Advisors said the fund is all set to close the first round by end of September, which will see a sum of Rs 200 crore being mopped up from investors. It would take another six months to raise the balance money.
Milestone has over Rs 3,700 crore of capital across nine funds, including 2 offshore, in real estate, health care, education and bullion products, managing investments for over 16,500 investors. The PE firm will be looking at partners (developers) in the NCR, Mumbai, Pune, Bangalore and Chennai for residential real estate projects, to be executed under the new fund.
The PE firm has invested Rs 220 crore from three funds across multiple investments in Chennai and Pondicherry in residential and commercial projects.
More from Companies
Editor´s Pick
HP Omni 10 5600US Tablet: Big & bright
Lava Iris X1: High on looks
Karbonn Titanium Octane Plus: Good buy for those who love gaming
Copyright © The Indian Express ltd. All Rights Reserved.
No comments:
Post a Comment