NCW-backed office realty fund raises Rs 4,000 crore

New Delhi: The Prime Offices Fund, a commercial real estate-focused fund managed by Nuvama and Cushman & Wakefield Management (NCW), has garnered Rs 4,000 crore in its first round of fundraising. The fund has already invested about 45% of its capital, acquiring three office assets in Delhi, Pune and Chennai.

The fund, launched to provide local investors access to institutional-quality commercial office assets in India, was originally launched with a target corpus of Rs 3,000 crore. Strong investor demand, coupled with 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 NCW chief investment officer Gaurav Puri.


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.