Private Equity

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Godrej Fund Mgmt achieves final close of $500-M office fund

Economic Times  

Godrej Fund Management, the real estate private equity arm of the Godrej Group, has raised USD 500 million through the final close of its office development fund, GBTC II. The fund counts APG Asset Management and Allianz Real Estate as the key investors in the platform. Godrej Fund Management will develop grade-A office assets that will be valued in excess of USD 1.5 billion or nearly INR 11,000 crore on completion. The total value of the assets including those from previous funds will take the portfolio value upon completion to over USD 3 billion or nearly INR 22,000 crore.