Godrej Fund Management forays into office space, raises $600 million

Godrej Fund Management (GFM), the real estate private equity arm of the Godrej group, on Monday announced it had raised $600 million in the first phase of two new funds for investing in office projects.

The “Godrej Build to Core — I” (GBTC-I) fund, a club-style office investment platform, has raised $450 million. This will be invested to develop Grade-A buildings across key locations. APG Asset Management, which had invested in other funds managed by GFM, will be the cornerstone investor of GBTC-I.

The other new fund, “Godrej Office Fund — I” (GOF-1), a discretionary blind pool, has raised $150