Saffron Group aims leading place in realty funding
Real estate PE firm Saffron Group has chalked out a two-pronged strategy to become a leading player in the market.
By PTI |
MUMBAI: Real estate private equity firm Saffron Group on Sunday said it has chalked out a two-pronged strategy to become a leading player in the market staying put for a minimum five years in upcoming properties and buying out assets with assured rental income.
The Group, a brainchild of Ajoy Veer Kapoor and his peers from the banking fraternity, is the promoter of Euronext listed Yatra Capital, an India-focused real estate fund. It has also launched Saffron India Real Estate Fund-1.
"Our strategy is to be a leading player in the field. We don't have any short-term view. The industry is growing and it will yield better results for another 10-15 years," Kapoor said.
Yatra Capital has already raised Euro 220 million through two public offers and has invested almost 75 per cent of that in the Indian real estate market.
The Saffron India Real Estate Fund I, launched in February 2008, is raising a USD 350-450 million unlisted fund, with a hard cap of USD 500 million. It has done a first close on April 3, 2008 with an anchor investment of USD 75 million from Standard Life UK. It is expected to close by the end of 2008.
Following the closure of the fund, Saffron would come out with more funds and invest in real estate and related areas like infrastructure, logistics, warehousing, hospitality and healthcare.
The Group, a brainchild of Ajoy Veer Kapoor and his peers from the banking fraternity, is the promoter of Euronext listed Yatra Capital, an India-focused real estate fund. It has also launched Saffron India Real Estate Fund-1.
"Our strategy is to be a leading player in the field. We don't have any short-term view. The industry is growing and it will yield better results for another 10-15 years," Kapoor said.
Yatra Capital has already raised Euro 220 million through two public offers and has invested almost 75 per cent of that in the Indian real estate market.
The Saffron India Real Estate Fund I, launched in February 2008, is raising a USD 350-450 million unlisted fund, with a hard cap of USD 500 million. It has done a first close on April 3, 2008 with an anchor investment of USD 75 million from Standard Life UK. It is expected to close by the end of 2008.
Following the closure of the fund, Saffron would come out with more funds and invest in real estate and related areas like infrastructure, logistics, warehousing, hospitality and healthcare.
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