Kolkata, Oct. 2 -- Kolkata-based Keventer Group and Saroj Poddar Group have launched a Rs 400-crore Category II Alternative Investment Fund (AIF), the first such fund by a West Bengal real estate developer, they said.
The Poddar Keventer Real Estate Fund - Scheme I has a target corpus of Rs 400 crore, with a Rs 200 crore greenshoe option, taking it to Rs 600 crore. The secured real estate debt fund will focus on projects in Delhi-NCR and West Bengal and target a gross IRR of 18-22 per cent before expenses. Sponsors have committed Rs 80 crore.
Mayank Jalan, Chairman & MD, Keventer Group, said, "We see significant opportunities across both Delhi-NCR & West Bengal," driven by consumer aspirations, infrastructure-led development and demand for quality real estate.
Akshay Poddar, Promoter, Saroj Poddar Group, said the AIF ecosystem was increasingly supporting India's growth opportunities, with real estate a key investment destination.
Gaurav Agarwala, Head of Operations, Poddar Keventer, said the fund would combine real estate expertise with disciplined investment and execution.
Published by HT Digital Content Services with permission from Millennium Post.