Altern Capital launches maiden Rs 250 Cr real estate fund

Altern Capital, an investment management company focussed on real estate investments, launched its maiden SEBI-approved Category II Alternative Investment Fund (AIF) named JIRAAF AU INDIA REAL ESTATE FUND - I.

The target size of this fund is Rs 250 crore, with an additional greenshoe option of Rs 100 crore, states the release. AI Growth Private Limited, through its brands “JIRAAF & ALTGRAAF”, is the sponsor of the fund.

JIRAAF I will be used for plotted development and last-mile funding. The fund’s tenure is 4 years, and it will focus on early project completion, quicker visibility, and reliability of principal and returns for investors.

“Our goal at Altern Capital is to redefine real estate investment by ensuring tech-based stringent investment and post-investment monitoring and delivering exceptional risk-adjusted returns for our investors. Trust, Team Quality and Transparency are the key foundations of Altern Capital. We believe our innovative approach will set new benchmarks in the industry,” said Navin Dhanuka, Founder & CEO of Altern Capital.

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With an experience of over 21 years in real estate investments across India, Navin Dhanuka, the founder of Altern Capital has held leadership positions in prominent global and Indian firms such as Piramal Capital, Walton Street Capital, and Ernst & Young.

The team anticipates significant deployment in plotted development across cities such as Bengaluru, Chennai, Hyderabad and Mysuru.