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Real estate consultancy firm, Jones Lang LaSalle's (JLL), Segregated Funds Group on Tuesday announced the first closing of its maiden real estate fund in India. The fund, Residential Opportunities Fund - I (ROF - I), raised Rs 101 crore of capital commitments in its first closing, in line with the Rs 300 crore total fund raising target.
The Segregated Funds Group is a new entity set up by JLL to raise a series of funds with dedicated investment themes for the Indian real estate market.
The objective of the fund is to invest in the residential sector in prominent location across seven cities in India.
Scheme ROF - I was amongst the first real estate funds to be registered with the market regulator under the new Alternate Investment Funds (AIF) regulations. The objective of the fund is to invest in the residential sector in prominent location across seven cities in India -- Delhi NCR, Mumbai Metropolitan Region (MMR), Bangalore, Chennai, Kolkata, Hyderabad and Pune.
