Mt. K Kapital announces the raise of INR 350 crore in the Mt. K Resi Development Fund from anchor investors SBI, Famy Care, Rustomjee and other HNIs.
Mt. K Kapital has announced the raise of INR 350 crore in the Mt. K Resi Development Fund (Category II SEBI Registered Alternative Investment Fund) from anchor investors like SBI, Famy Care, Rustomjee and other HNIs.
50% of the raised funds are in the process of being committed towards three identified redevelopment projects in the MMR region. These include two projects in Bandra and one in Andheri with sale areas ranging between 0.5 to 1 lakh sq. ft each.
The fund aims to invest in 8–10 projects in the MMR region, with a focus on redevelopment with the Rustomjee Group as the Development Partner. Mt. K Resi Development Fund is Mt. K Kapital's ESG Impact Development Fund that provides the opportunity for investors to participate in the equity returns of real estate projects with a marquee developer. The core team of 9 people led by Binitha Dalal and Abdeali Tambawala comes with over five decades of combined experience across real estate and fund management. The investment committee consists of industry experts and large investors, ensuring the highest level of corporate governance.
ANAROCK Group has been a strong support and partner to the fund on its journey. ANAROCK Capital has played a key role in raising capital for the fund and will continue to work jointly with the team throughout its journey.
Binitha Dalal, Founder and Managing Partner, Mt. K Kapital, stated: "We are delighted to have reached this milestone of raising Rs 350 crore from investors who are not just industry stalwarts, but also long-term visionaries, who have partnered with us in our journey. We are fortunate to be backed by Rustomjee and our intention is to bring the right kind of capital to the real estate sector in times to come."
Boman Irani, Chairman & Managing Director of Rustomjee Group, said: "We are delighted and proud to back Mt. K Kapital, and its foray into the fund management business. Through this fund, we continue to leverage our development expertise in the MMR while partnering towards maximizing value to the investors. This is a new pool of capital that works on the principles of win-win for all stakeholders and partners."
J.P. Taparia, Founder and Chairman, Famy Care: "The Mt K Resi Development fund is being led by a highly experienced team and we feel very strongly about the potential that the fund is designed to offer. As investors, we firmly believe that the team has identified and developed the right investment strategy."
Anuj Puri, Chairman ANAROCK Group: "An increasing trend of Real estate AIFs being favoured by marquee institutional and family office investors as their preferred choice of alternative investment has emerged. Even as Indian real estate continues to demonstrate resilience amidst global growth concerns, new-age real estate AIFs like Mt. K Kapital are being launched with the backing of credible sponsors who are focused on the favourable risk-return ratio of physical assets."
