Godrej Fund Management, the real estate private equity arm of the Godrej Group, has planned to strengthen its pan-India office projects portfolio to over $3 billion or ₹22,000 crore by 2023. It has deployed a strategy to take this portfolio public through a Real Estate Investment Trust (REIT). This will be India's first domestic private equity fund with such a large office projects portfolio that can rival global entities like the Blackstone Group and Brookfield Asset Management that have been chasing yield-generating commercial properties in India. MD & CEO of Godrej Fund Management, Karan Bolaria, said, "We are interested in creating a long hold structure for these assets so that there would be either a private core fund, wherein we will raise more money for holding these assets for long-term."
📅Published on:
21 January 2021
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