DHFL’s realty fund to raise Rs.200 crore

DHFL – promoted fund management company Arthveda will raise Rs. 200 crore with a green shoe option of Rs.100 crore through its second real estate fund and plans to have assets worth $1 billion under management in three years. The fund would invest in 34 Greenfield housing projects across Tier-II and Tier-III cities and hold a stake of 50-75% in each project’s special purpose vehicle. With an exit period of three years and an extension of two years, the fund aims to achieve close to 30% returns. The company will announce its third realty fund worth Rs.1000 crore shortly.