Prime Offices Fund closes first round at Rs 4,000 crore, commits 45% of capital

New Delhi: Prime Offices Fund, a commercial real estate focussed fund managed by Nuvama and Cushman & Wakefield Management Private Limited (NCW), has raised Rs 4,000 crore in the first round of funding.

The fund has already committed approximately 45% of its capital, acquiring three office assets in Delhi, Pune and Chennai.

The fund, launched to provide Indian investors access to institutional-quality commercial office assets in India, was originally launched with a target corpus of Rs 3000 crore.


Strong investor demand, coupled with a robust and sizeable deployment across India’s office markets, led NCW to increase the fund size, with the expanded corpus now fully subscribed.

“The final close of PRIME reflects conviction in both India’s office sector and our investment strategy. The ability to expand the Fund beyond its original target underscores the strength of investor interest and the quality of opportunities available in the market,” said Gaurav Puri, Chief Investment Officer, NCW.

India's office market continues to benefit from structural growth drivers, including the growth of Global Capability Centres, expanding front-office operations and sustained demand for high-quality workplaces.

“With a strong foundation now in place, we remain focused on disciplined deployment and long-term value creation as we pursue opportunities across our target markets,” Puri said.

The Fund has created a portfolio of approximately 4 million square feet office spaces across the country. The portfolio today is home to more than 70 occupiers, with over 50% of tenants comprising Global Capability Centres (GCCs) and more than 20% representing front office operations.

Nuvama and Cushman & Wakefield Management Private Limited (NCW) is a 50:50 joint venture between Nuvama Asset Management, the alternatives-focused arm of Nuvama Wealth Management Ltd, and global real estate services firm Cushman & Wakefield.

Last year, it had acquired a 300,000 sq ft operational building at Delhi’s Saket.

NCW’s flagship fund, the Prime Offices Fund (PRIME), received SEBI approval in 2024 and marked its first close of Rs 1,700 crore in 2025.

The fund will focus on Grade A+ offices across key micro-markets in India's top six cities -- Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad.