New Delhi, Oct. 5 -- The Saroj Poddar Group (formerly Adventz Group) and Keventer Group have joined hands to launch their maiden alternative investment fund to make debt investments in real estate projects, the companies said in a statement.
The two groups have formed Poddar Keventer Capital Advisors Pvt Ltd, an investment management firm, and rolled out the Poddar Keventer Real Estate Fund - Scheme I. The vehicle, registered as a Category II alternative investment fund with the Securities and Exchange Board of India, has a target corpus of Rs 400 crore ($41.4 million) and a greenshoe option of Rs 200 crore.
The Saroj Poddar Group is a $3 billion diversified business conglomerate while Keventer is one of eastern India's leading business groups. The groups said the platform combines Saroj Poddar Group's institutional expertise with Keventer's real estate development and execution capabilities. They also said the launch marks the first step in their broader ambition to build a professionally managed institutional real estate investment platform.
The fund will pursue projects across Delhi-national capital region and West Bengal, with a target gross internal rate of return of 18-22% before expenses. The sponsors have committed Rs 80 crore, which is 20% of the target corpus.
The fund will provide structured financing to real estate projects in the ultra-luxury, premium and mid-market segments. Its investment framework combines secured debt structures with security cover, escrow and covenant safeguards, milestone-linked drawdowns and ongoing monitoring.
The launch comes at a time when India's real estate sector is going through a structural shift with institutional capital, private credit and alternative investment vehicles increasingly playing an important role alongside traditional sources of funding. As developers seek more structured and flexible sources of capital, investors are placing greater emphasis on governance, transparency, execution capability and disciplined capital deployment.
"We see significant opportunities across both Delhi-NCR and West Bengal, supported by evolving consumer aspirations, infrastructure-led development and sustained demand for quality real estate," said Mayank Jalan, chairman and managing director, Keventer Group.
Akshay Poddar, promoter and director at Saroj Poddar Group said the rapid growth of India's AIF ecosystem reflects the increasing role of alternative capital in supporting the country's growth opportunities, with real estate emerging as one of its key investment destinations. "At the same time, the evolution of the regulatory framework, including SEBI's recent measures around scheme launches, governance and fund lifecycle management, is helping strengthen the institutional architecture of the asset class," he said.
Published by HT Digital Content Services with permission from VC Circle.