MUMBAI/BANGALORE: personal equity firm Milestone Capital Advisors is going to raise a Rs 500-crore realty fund, which can be launched in January and can have a greenshoe choice of extra Rs 250 large integer. The fund, with a complete tenure of half-dozen years as well as 2 extensions, are Milestones eighth realty fund and initial since last 2 years following the extra time of its founder and business executive Ved Prakash Arya.The firm complete its last campaign with a Rs 410-crore domestic giving in 2011. From the 2011 fund, Milestone Domestic theme III, its already deployed Rs 260 large integer across seven investments. Recently, Milestone has finalised finance Rs sixty five large integer in an exceedingly 14-acre project of ATS cluster in bigger Noida. as well as this commitment, the fund plans to speculate nearly Rs one hundred fifty large integer in 3 comes within the urban center Region (NCR) and Bangalore. Milestone Domestic theme III was a domestic mezzanine structure debt fund. The new fund is probably going to specialise in investments in industrial assets giving stable rental yields. We area unit nonetheless to require a appeal the theme of the fund. however industrial realty has emerged as a beautiful phase right away with costs and rentals nearly at rock bottom. From the present levels, rentals might not dip additional and that we will solely expect it to maneuver up, same Rubi Arya, chairwoman and director, Milestone Capital.At present, there area unit many personal equity players as well as IL&FS Investment Manager, JP Morgan Partners, ICICI Venture and Red Fort Capital that area unit either coming up with or already within the method of raising funds. Raising fund within the domestic market is meeting with comparatively smart success than overseas offerings right away. Funds with clear focus are able to receive smart response if the structure and theme suit the present investment state of affairs, same Sanjay Dutt, government administrator South Asia, Cushman & Wakefield. At present, Milestone Capital has total assets beneath management value Rs three,200 crore. Of this, around Rs one,500 large integer area unit industrial assets cover three.5 million square measure. The fund recently sold its health care and education personal equity unit to Singapore-based Quadria Capital. Milestone managed aroundRs four hundred large integer beneath its health care and education fund that was a venture with Religare. SOURCE:articles.economictimes.indiatimes/
Posted on: Tue, 03 Dec 2013 09:32:56 +0000
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