Bengaluru, Sept. 22 -- Investment manager Arnya RealEstates Fund Advisors and developer Supreme Universal have partnered to launch a residential real estate platform that will develop housing projects in Mumbai and Pune, with plans to deploy Rs.1,000 crore in equity capital, including a Rs.500 crore green-shoe option.

Arnya RealEstates will raise the capital for the platform via a Sebi-registered Category II alternative investment fund (AIF)-Arnya Real Estate Fund-Equity.

"The focus of the platform is to develop non-slum, residential redevelopment projects in Mumbai and Pune. The platform will have around 7-8 projects, with an investment of Rs.80-200 crore each," said Sharad Mittal, founder of Arnya RealEstates Fund, in an interview wit...