Indiareit Fund Advisors Pvt Ltd, the real estate private equity arm of Piramal Enterprises, has announced that Domestic Scheme V has crossed the basic fund size of Rs 750 crore last week and has, in turn, exercised the greenshoe option in the wake of overwhelming demand to achieve the target fund size of Rs 1000 crore.
The Scheme currently stands at Rs 800 crore and is well on track to reach the target fund size by the end of the year.
With this fund raise, Indiareit is one of the few managers who have raised a substantial amount of capital this year and is able to commit to relatively bigger deals as a result.
