ArthVeda Fund Management launches realty fund
February 3, 2012
ArthVeda Fund Management (AVFM), a fund management arm of Dewan Housing Finance Corp. (DHFL), on Tuesday announced the launch of its second real estate fund ArthVeda Star. The fund, which is open for domestic institutions and high net-worth individuals aims to raise R200 crores.
Bikram Sen, CEO, ArthVeda Fund Management said, “Considering the high potential demand in middle-income housing segment in tier II and tier III cities in India, we have launched ArthVeda Star Fund that will offer domestic institutions and high net-worth individuals an opportunity to invest in smaller markets in India, leveraging DHFL group’s expertise.“ The strong lending expertise of DHFL, gives an edge to ArthVeda Star Fund to deliver high returns with low risks to the investors.
The fund will be invested in middle income housing projects, with 75% of the investment in 16 tier II and tier III cities like Pune, Nagpur, Nasik, Jamnagar, Raipur and Lucknow.