Nuvama Asset Management, Cushman & Wakefield plan commercial realty fund

Asset manager Nuvama Asset Management and real estate advisory major Cushman & Wakefield have joined hands to launch a commercial realty fund. Nuvama and Cushman & Wakefield Management Private (NCW), a 50:50 joint venture, plans to launch their first real estate fund – Prime Offices Fund. The category-II alternative investment fund (AIF)— which is still awaiting market regulator Sebi’s approval—is targeting a corpus of Rs 3,000 crore.

The fund will eye opportunities in Grade A+ office space across micro markets in the top 6 cities of Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad. 

“Our global real estate expertise, coupled with Nuvama’s local market knowledge and investment acumen, will create an unrivalled value proposition for investors,” said Matthew Bouw, Chief Executive, Asia Pacific, Cushman & Wakefield. “Global institutional investors have taken the lead and defined a successful playbook for investing in this sector. Domestic investors have largely remained under-allocated in this segment or participated through fragmented ownership without access to operational capabilities required to manage these real assets,” added Anshu Kapoor, President & Head of Nuvama Asset Management.