Private Equity

Fund News

SWAMIH returns 25% capital with 17 full, 29 partial exits with project deliveries

Economic Times  

Government-backed and SBICAP Ventures-managed last-mile financing platform, Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH I), has returned over 25% of drawn capital to its investors owing to faster completion of stuck housing projects across the country totalling over 26,000 apartments. It has done almost 17 full exits and 29 partial exits, with about 46 out of its over 100 investee projects witnessing completion. All investments made by the fund are fixed at 12% internal rate of return (IRR). With INR 10,900 crore already committed to the current portfolio, the fund has dry powder of over INR 4,500 crore until its agreed investment commitment period of December 2024. It has an active pipeline for closures and is expecting to soon close 15-20 new investments.