Mumbai-based Rustomjee Group on Thursday introduced the launch of an actual property fund known as Mt K Kapital of $50-$75 million. It can be a growth fund platform centered on tasks in Mumbai Metropolitan Region within the residential and mixed-use growth segments.
In future, the fund can even spend money on accomplished mixed-use industrial belongings throughout varied cities. The firm stated that the Securities and Exchange Board of India (Sebi) filings for the CAT II AIF license have already been made.
Boman Irani, chairman and managing director, of Rustomjee Group, stated, “We are glad to create Mt. K Kapital platform and through this, we aim to leverage our development expertise and grow our presence in the MMR while maximising value to the investors of the fund.”
The enterprise can be led by Binitha Dalal and Abdeali Tambawala who’ve over 15 years of expertise in actual property and fund administration understanding of finance and investments in realty.
Binitha Dalal, founder, of Mt K Kapital, stated, “We believe that now is the right time to set up the real estate development fund platform. We will work towards creating true value for our investors and keep growing the scope of this platform in times to come. We aim to bring in assets with a top line of $0.5 billion in the first fund.”
Rustomjee didn’t disclose particulars in regards to the traders or return expectations from the platform.
Source: www.financialexpress.com”