DMI Alternatives closes second scheme of DMI AIF at Rs 16 billion

DMI Alternatives also announced a strategic partnership between DMI AIF and Stellar Ventures, a NOIDA-based real estate developer

Delhi-based DMI Alternatives Pvt Ltd (DMI Alternatives), an associate company of DMI Finance Pvt. Ltd. (DMI Finance), announced the closure of the second scheme of DMI Alternative Investment Fund (DMI AIF). The scheme achieved a final close at a capital commitment of $250 million (Rs 16 billion), DMI Alternatives said in a statement.

It has a nine-year life and is designed to invest in structured debt and equity in real estate companies. The fund expects to make 15 to 20 investments in Indian companies holding assets ranging from land to built-up inventory. It will also consider portfolio level investments and is