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Alternative Investment

mt. k kapital fund raise: Mt. K Kapital raises Rs 350 cr for its maiden fund; to invest in residential projects

New Delhi: Mt. K Kapital has raised Rs 350 crore in its maiden real estate fund from investors including and realty firm Rustomjee. Mumbai-based Mt. K Kapital is a real estate focused fund management company with Sebi-approved Category II Alternative Investment Fund licence, that will invest in real estate projects across the spectrum.

In a statement, the company announced raising of Rs 350 crore in the Mt. K Resi Development Fund from anchor investors like SBI, Famy Care, Rustomjee and other HNIs (high net-worth individuals).

“Fifty per cent of the raised funds are in the process of being committed towards three identified redevelopment projects in the MMR (Mumbai Metropolitan Region) region. These include two projects in Bandra and one in Andheri with sale areas ranging between 0.5 to 1 lakh square feet each,” it added.

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 is led by Binitha Dalal and Abdeali Tambawala. The investment committee consists of industry experts and large investors, ensuring the highest level of corporate governance.

Real estate consultant Anarock has been a strong support and partner to the fund on its journey and its arm Anarock Capital has played a key role in raising capital for the fund. Mt. K Kapital founder and managing partner Binitha Dalal said, “The positive response towards the fund only strengthens our belief in building the platform as a differentiator and we hope to reach our goal of being one of the premier real estate fund management companies in the future.”

Boman Irani, Chairman & Managing Director of Rustomjee Group, said, “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. In times to come, the platform will grow and create a new pool of capital for the sector.”

Anarock Chairman Anuj Puri said an increasing trend of real estate AIF’s 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 vis-a-vis other asset classes,” he added.

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