Bajaj Alts raises Rs 950 crore in initial close of maiden real estate fund

MUMBAI: Bajaj Alternate Investment Management (Bajaj Alts), the alternative investment platform of Bajaj Finserv, has raised around Rs 950 crore in the initial close of its maiden commercial office real estate fund, with commitments from leading family offices, institutions and high-net-worth individuals.

The Bajaj Alts Real Estate - Growth Fund I targets to raise Rs 2,000 crore, including the green shoe option, and has a strong pipeline of investment opportunities. The fund will focus on developing Grade A commercial office assets in prime markets through equity joint ventures (JVs) with established developers.

The strategy combines developers’ construction capabilities and market access with institutional capital, disciplined underwriting and active investment oversight. The approach differs from real estate investment strategies in India that have historically focused on debt financing for residential developers or the acquisition of existing core assets.


“This first fund raise sets the foundation for building a broader and diversified alternatives platform for our investors. Our endeavour is not simply to deploy capital, but to do so with discipline, backed by rigorous research, prudent risk management and strong governance. As we continue to build our alternatives platform, our focus remains on creating sustainable long-term value for our investors,” said Lakshmi Iyer, Group President - Investments and MD & CEO, Bajaj Alts

According to Sanchit Bhatia, head of Real Estate Fund, Bajaj Alts, the strategy is focused on partnering with established developers to co-develop high-quality commercial office assets in India’s key markets.

“In India, real estate investment strategies have historically focussed on debt financing for residential developers or core asset acquisition. Our equity-led approach to commercial office development gives investors an opportunity to participate in the value creation from high-quality real estate projects favoured by corporates and GCCs. The strong investor response to our initial close reflects the growing interest in this strategy among domestic investors,” Bhatia added.

The fund will seek to build a high-conviction portfolio across select cities offering growth opportunities. Its pipeline of transactions is expected to provide visibility for deploying capital over the coming months.

India’s commercial office market continues to benefit from structural demand from Global Capability Centres (GCCs) and other large occupiers, supporting the long-term attractiveness of high-quality office assets in established markets.