JLL's investment arm achieves first close of maiden realty fund at Rs 101 cr

At a time when private equity investors have turned cautious and are looking at exiting investments in India, global real estate consultancy firm Jones Lang LaSalle’s Segregated Funds Group has achieved the first closing of its maiden real estate fund in India; Residential Opportunities Fund - I (ROF - I) for Rs 101 crore, in line with the Rs 300 crore total fund raising target.

[caption id=“attachment_883365” align=“alignleft” width=“380”] Reuters[/caption]

The objective of the fund is to invest in the residential sector in prominent location across seven cities in India, namely Delhi NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Kolkata, Hyderabad and Pune. It aims to mirror the investment themes of direct investors in residential real estate.

“The current times provide an attractive opportunity to generate higher risk adjusted returns for investors by securing investment opportunities that have shorter development cycles and good locational attributes. We believe the depth of our experience, analysis and relationships in the market, positions us to capitalize on this opportunity” said , Mridul Upreti, CEO, Segregated Funds Group

More from Economy

Inflation likely to be a big focus area for budget 2024, say sources Explained: Will the Bank of Japan break tradition and raise interest rates?

Launched in early 2012, the Segregated Funds Group is Jones Lang LaSalle’s investment management business in India, offering high net worth investors and institutions, long term value added returns through high quality proprietary real estate investment opportunities.

Axis Bank Private Limited acted as the placement agent for Scheme ROF - I.