India Realty Fund-I distributes 5 per cent income

MUMBAI: India Realty Fund-I ( IRF-I), managed by Private Equity player, Azure Capital has announced second distribution of profit earned by the Fund May 18. The fund distributed 5 per cent of its income.

In all the fund has distributed 10 per cent of its income in two months. There are few Real Estate PE Funds in India to distribute profits within 2.5 years of final closure date and IRF-I is one of those few.

Azure Capital is now headed by former Sanjay Chandel, former official at the Securities and Exchange Board of India. India Realty Fund is fund focused on real estate markets in high growth cities in Southern & Western regions of the country in residential space. The Fund was launched in 2010.