Mumbai, Mar 20: Okas, real estate private equity arm of DMI Group, on Monday launched its second realty fund with a targeted corpus of USD 500 million, which on closure will be deployed in 20 affordable homes and leasing grade A office space projects.
The first fund, with 11 million square feet under development, has deployed USD 250 million, closed in 2018, across 20 real estate projects concentrated in Gurgaon, Noida, Lucknow and Bengaluru, the company said in a statement.
The lead investor in the second fund is New Investment Solutions, a Liechtenstein-based asset management company that had led the earlier round in 2018, said DMI co-founder Shivashish Chatterjee.
He said the fund is committed to deepening its engagement in both residential as well as commercial development.
Yuvraja C Singh, co-founder of DMI, expressed confidence in creating a new benchmark for quality with their upcoming projects.
Okas is an initiative within the DMI Alternative Investment Fund, which is category II alternative investment fund registered with Sebi.
Founded in 2008, DMI is a credit platform offering digital consumer loans, MSME finance, housing and wholesale funding, and asset management. It is supported by global institutional investors, family offices, banks, and public market creditors. (PTI)
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