Godrej Fund Management

The move is aimed at enabling blended finance structures that combine concessional or philanthropic capital with private investment to fund socially desirable but commercially less viable projects

GFM has fully invested the previously raised capital under GBTC I and Godrej Office Fund I

This is the 3rd India focused office venture and 5th overall, sponsored by GFM

GFM announced the first close of its $500 million office development platform, GBTC II in partnership with Netherlands-based APG Asset Management, the cornerstone investor in the platform

If the deal fructifies, it will be one of the biggest commercial property deals in the country this year

The fund would invest $50 million to $150 million each and focus on Mumbai, National Capital Region, Pune and Bangalore markets

The fund has already secured two developments, one each in Mumbai and Gurgaon, totalling 2 million square feet

The "Godrej Build to Core - I" (GBTC-I) fund, a club-style office investment platform, has raised $450 million