Private Equity Fund Investments
TN Shelter Fund invests in Vijay Raja Homes' affordable housing project
The Tamil Nadu Shelter Fund (TNSF), a fund managed by the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), has invested INR 95 crore in an affordable housing project by Vijay Raja Homes Pvt Ltd. The capital will be used to develop ‘VRX 360' a 2,700-unit under-construction affordable development project in Thirumazhisai, a suburb in western Chennai. JLL India was the exclusive advisor for the transaction. TNSF is a Category I (Social) Alternative Investment Fund (AIF) with investments from global investors like the World Bank. It invests in Environmental, Social and Governance (ESG) compliant affordable housing impact projects for commercial returns.
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