Real estate-focused fund management firm Mt. K Kapital has secured ₹350 crore from anchor investors State Bank of India, Famy Care, Rustomjee Group and other HNIs.
Real estate-focused fund management firm Mt. K Kapital has secured Rs 350 crore (about $43 million) from anchor investors State Bank of India, Famy Care, Rustomjee Group and other undisclosed high-net-worth individuals.
The fund has raised capital in the Mt K Resi Development Fund, which is a Category II Alternative Investment Fund. More than half of the funds raised are in the process of being committed towards three redevelopment projects in the Mumbai metropolitan area comprising two in Bandra and one in Andheri.
Anarock Group, a real estate services firm, played a key role in the fundraise and will continue to work jointly with Mt. K Kapital. The fund aims to invest in 8–10 projects in the Mumbai metropolitan area with a focus on redevelopment with Rustomjee Group as the development partner.
The Mt K Resi Development Fund is the firm's ESG Impact Development Fund that gives investors the opportunity to participate in equity returns of real estate projects. In the Mumbai metropolitan area, Rustomjee Group has a development portfolio of 20 million square feet of finished projects, 9.2 million square feet of current development and 16.4 million square feet of planned development.
The fund will be led by Binitha Dalal and Abdeali Tambawala who have over 15 years of experience in finance and investments in the property market.
The real estate market has seen a flurry of activity following the interruption created by the pandemic, with institutional capital increasingly seeking structured vehicles for real estate exposure.
