Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, said its Domestic Scheme V crossed the basic fund size of Rs 750 crore last week and it had exercised the greenshoe option to achieve the target size of Rs 1,000 crore. Currently, the scheme stands at Rs 800 crore and is on track to reach the target fund size by the year-end.
Khushru Jijina, Managing Director, Indiareit, said the company benefits from the depth of understanding that is resident within the Piramal Group. This coupled with the real estate expertise and experience of the Indiareit team, gives it a unique advantage in terms of both market knowledge and transaction ability.