Local PEs face challenges in raising funds to invest in office properties

According to sources, two fund managers have shelved the plans to launch funds for office projects

While global fund managers such as Blackstone and Brookfield are pouring billions into the Indian office space, home-grown managers are facing challenges in raising funds to invest in office properties.

In 2017, domestic fund managers were planning to raise between Rs 50 billion and Rs 60 billion in private equity funds to invest in office properties but all of it is not being raised now.

For instance, Reliance Nippon Asset Management has put on hold its plans to launch a Rs 10 billion rental yield fund to buy office assets, said a source in the know. The fund was to be raised