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Axis AMC raises Rs 400 crore for maiden real estate fund

The investors of this fund include domestic institutions, high networth investors (HNIs) and the sponsor (Axis AMC).

, ET Bureau|
Apr 02, 2019, 03.49 PM IST
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The fund is targeting investments, through structured debt route, in the top 8 cities of India.
MUMBAI: Axis AMC has raised Rs 400 crore through its maiden real estate fund, the Axis RERA Opportunities Fund – I (Axis RERA Fund) with commitments.

The investors of this fund include domestic institutions, high networth investors (HNIs) and the sponsor (Axis AMC).

The fund is targeting investments, through structured debt route, in the top 8 cities of India and aims to work with developers with an established track record of delivery and who show potential and capability for future growth, Axis AMC said in a release.

"The real estate market has seen trying times over the last few months....Real estate business in India has changed, and we are looking to work with developers who can adapt to it," Balaji Rao, Managing Partner – Real Estate, Axis AMC.

He believes the demand for mid-income and affordable housing will likely continue to rise, backed by strong support from the government through initiatives like RERA, PMAY, Housing for all by 2022 etc.

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