Altern Capital, an investment management company specialising in real estate investments, launched its maiden SEBI-approved Category II Alternative Investment Fund (AIF) named JIRAAF AU INDIA REAL ESTATE FUND - I (“JIREF I”). The target size of this fund is ₹250 Cr, with an additional greenshoe option of ₹100 Cr.
Altern Capital’s core strategy for their maiden fund is plotted development and last-mile funding. The fund’s strategic focus is on reducing approval and execution risk, setting it apart from its peers. The Fund’s tenor is 4 years, as opposed to the typical 6-year horizon, emphasizing early project completion, quicker visibility, and reliability of principal and returns for investors, said a release.
AI Growth Private Limited, founded by Saurav Ghosh and Vineet Agrawal and market leader in tech-based innovative fixed-income platforms through its brands “JIRAAF & ALTGRAAF”, is the sponsor of JIREF I.
