Godrej Fund Management enters commercial real estate private equity space

Godrej Fund Management enters commercial real estate private equity space
21/03/2018 , by , in News/Views

Godrej Fund Management, the real estate private equity arm of the Godrej group, has announced the first close of its $450-million office development fund and a first close of its $150-million office investment fund.

With this development, the assets under management for GFM, which also manages two existing residential investment funds, has crossed the $1-billion mark within one year of it being spun off as a separate business.

The two new funds that have been raised are: Godrej Build to Core – I (GBTC-I), a $450-million ‘club style’ office investment platform that will invest in developing world-class Grade-A office buildings in leading locations across the key office markets of India. APG Asset Management N V, which has invested in previous funds managed by GFM, will be the cornerstone investor for GBTC-I.

The other newly raised fund is Godrej Office Fund- I (GOF-I), a $150-million discretionary blind pool fund that will invest in core and core-plus office and commercial properties across India.

 

About admin

Loading...