Arnya Real Estate Fund raises Rs 375 Cr as first close
Arnya Real Estate is a debt fund and aims to raise Rs 1,000 crore with an additional greenshoe option of a similar amount.
Arnya Realestates Fund Advisors, an alternative investment management firm, has raised Rs 375 crore as the first close for its Rs 1,000-crore maiden debt fund, according to a statement.
The Arnya Real Estate Fund, launched in April 2024, has secured commitments from a diverse group of investors, including family offices, ultra-high-net-worth individuals (UHNWIs), and HNIs. The fund is targeting a corpus of Rs 1,000 crore, with an additional green shoe option of the same amount.
Founded by Sharad Mittal in December 2023, Arnya Realestates Fund Advisors offers a range of real estate investment products, including debt, rental, and equity investments.
Commenting on the first close, Arnya Realestates Fund Advisors Founder and CEO Sharad Mittal said, "We are committed to building an independent, real estate-focused investment management firm that offers a comprehensive range of products across debt, rental, and equity in the real estate sector.”
He further said, “As our first venture into the debt space, this fund leverages our core strengths of focus, independence, and a proven track record to create value for our investors.”
Registered as a Category II Alternative Investment Fund (AIF) with SEBI, the fund focuses on providing early-stage growth capital to the residential real estate sector, targeting Tier I developers in India's top eight cities.
According to the statement, the founding team of Arnya Realestates Fund Advisors has managed assets under management (AUM) of over Rs 10,000 crore, delivering a 20% internal rate of return over multiple exits.
Edited by Kanishk Singh