Arnya partners Casagrand to launch Rs.750-Cr real estate fund

Mumbai-based Arnya RealEstates Fund Advisors has launched a Category-II alternative investment fund (AIF), Arnya Real Estate Fund III - Preferred Capital, with a target corpus of INR 750 crore. The firm has partnered with Chennai-based Casagrand for this fund.The fund will focus on residential real estate projects located in Chennai, Bengaluru, and Hyderabad. It plans to deploy capital through a preferred equity investment structure, with individual investments ranging from INR 75 crore to INR 200 crore across approximately 8 to 10 projects. The firm intends to use this fund to provide institutional and sophisticated investors exposure to real estate development margins.Founded in 2023, Arnya manages a platform with approximately INR 3,000 crore across various real estate strategies. Earlier this year, the firm achieved the first close of its residential equity fund at over INR 1,030 crore.