Leading global alternative asset management firm Investcorp said it has raised $130 million in anchor commitments primarily for providing last-mile funding in India. BAe Systems Pension Funds Investment Management Limited is the cornerstone investor for this initiative, which wil
Leading global alternative asset management firm Investcorp said it has raised $130 million in anchor commitments primarily for providing last-mile funding in India. BAe Systems Pension Funds Investment Management Limited is the cornerstone investor for this initiative, which will focus on projects in the affordable and mid-market housing segment in the top seven cities in India.
Commenting, Vikram Aggarwal, Head of Private Markets, BAe Systems Pensions said, “We believe that the Indian affordable housing segment represents a sizeable and attractive market opportunity catalysed by urbanisation and structural reforms.”
Yusef Al Yusef, Managing Director, Investcorp, said the current short-term liquidity constraints in the market provides the company with an excellent platform to grow its real estate business.
Ritesh Vohra, Partner and Head - Real Estate, Investcorp India, added, “Affordable housing has emerged as a dominant segment, augmented by government efforts and the introduction of favourable policy reforms.”
Investcorp manages over the US $28 billion globally and at its core is a mid-market specialist. In India, the real estate business has deployed over US $200 million through two funds across 27 residential projects located in the top tier cities.
Investcorp is also active in the mid-market private equity space in India, having made five investments, in Zolo Stays, Citykart, Intergrow Brands, Bewakoof, and Nephroplus in 2019.
