JLL India’s investment arm JLL Segregated Funds Group is raising its second real estate fund with a total target size of Rs 300 crore.
ROF – II intends to invest in residential projects in prominent micro markets, which have shorter project development life cycle; receivables backed by significant collateral and/or invest in value dislocated projects with financial distress.
Mridul Upreti, CEO, Segregated Funds Group, said given the current market situation, our focus initially, is to invest in value dislocated situations such as bulk apartment inventory purchase at discounts and debt financing against project receivables in high quality residential projects.
The fund is looking to do deals in the range of Rs 20-50 crore in a mix of equity and debt structured deals. The five year closed ended fund seeks to invest in residential investment opportunities in seven cities/ metropolitan areas of India (Delhi-NCR, Mumbai-MMR, Chennai, Bengaluru, Hyderabad, Pune and Kolkata).
In late 2013, JLL Segregated Funds Group had raised Rs 161 crore through final closing of its maiden real estate fund, Residential Opportunities Fund – I. The fund was amongst the first real estate funds to be registered with Sebi under the new Alternate Investment Funds (AIF) regulations.
