Private Equity

Fund News

OKAS to raise $500-M for affordable homes and office space projects

Economic Times  

OKAS, the real estate private equity arm of the DMI Group, is in the process of raising USD 500 million (about INR 4,200 crore) for its second real estate fund, which will invest in affordable homes and office space projects. The ticket size will range from INR 50-150 crore. The lead investor in the second fund is New Investment Solutions, a Liechtenstein-based asset management company which had also invested in the 2018 vintage first fund. The first fund, which deployed USD 250 million across 20 real estate projects in Gurgaon, Noida, Lucknow and Bengaluru and had 11 million square feet of space under development. It had earlier invested INR 120 crore in a residential project, Pardos OKAS, in Sector 90, Gurgaon, INR 80 crore in an office space project in Sector 74, Gurgaon, INR 120 crore in a Whitefield office space project in Bengaluru and INR 160 crore in a residential project, Pardos OKAS, in Lucknow.