Fund News
ICICI Prudential AMC to raise Rs 2,000-Cr AIF to invest in Mumbai housing market
ICICI Prudential Asset Management Co is planning to raise an INR 2,000 crore residential development fund focused on the Mumbai Metropolitan Region. The fund, which includes a green-shoe option of INR 1,000 crore, is structured as a close-ended Category II Alternative Investment Fund with a six-year tenure. The firm is targeting a gross internal rate of return of 20% to 25%.The fund will primarily focus on residential projects in Mumbai, specifically targeting redevelopment opportunities in established micro-markets where land for new development is limited.
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