Piramal ties up with IIFL to launch Rs 2000-crore AIF for realty projects

With this, Piramal would also be facilitating external capital (on a fund or co-investment basis) alongside its lending business

The Piramal Group said on Wednesday it had partnered with IIFL Wealth Management to launch a Rs 2,000-crore alternative investment fund (AIF) to provide last-mile funding to real estate developers. The group said the fund would be used to provide capital to tier-1 developers in key markets. 

The announcement comes close on the heels of SBICAP Ventures achieving the first closure of its Special Window for Affordable and Mid-income Housing (SWAMIH) investment fund I at Rs 10,530 crore. SWAMIH fund was recently announced by Finance Minister Nirmala Sitharaman for stalled housing projects with a total corpus of Rs 25,000 crore.

Recently, the