DELHI NCR, 10th February 2014 – Jones Lang LaSalle India’s Segregated Funds Group has made a final closing of its maiden real estate fund in India; Residential Opportunities Fund – I (ROF – I) at INR160.75 Cr. (USD 27 Million approx.), the company announced today
The first closing of the fund was announced earlier this year in June at INR 101 Cr. (USD 17 Million approx.). A significant portion of the capital has been raised from a combination of high net worth individuals (HNIs), institutional investors and family offices.
The Segregated Funds Group is an entity setup by Jones Lang LaSalle to raise a series of funds with dedicated investment themes for the Indian Real Estate Market. It aims to offer high net worth investors and institutions long term value-added returns through high quality proprietary real estate investment opportunities. Scheme ROF – I was amongst the first real estate funds to be registered with SEBI under the new Alternate Investment Funds (AIF) regulations. The objective of the fund is to invest in small residential projects in prominent locations across seven cities in India, namely Delhi NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Kolkata, Hyderabad and Pune.
Commenting on the first fund’s closing, Mridul Upreti, CEO, Segregated Funds Group said, “We appreciate the commitment by investors in such market conditions. This is an important milestone for the group as it has reinforced belief in our strategy and we are now in a position to harness a significant market opportunity.”
Axis Bank Private Limited acted as the placement agent for Scheme ROF – I.
About Segregated Funds Group, (Jones Lang LaSalle Investment Advisors Pvt Ltd)
The Segregated Funds Group (SFG) is a real estate private equity investment management entity focused towards directing investments in the Indian real estate market. The business envisages managing a series of real estate funds with distinct investment themes, offering investors private equity style returns. Launched in 2012 by Jones Lang LaSalle, one of the world’s leading financial & professional services firm specializing in Real Estate, the Segregated Funds Group is a natural extension of Jones Lang LaSalle’s presence in consulting services, and is based on the firm’s vast experience in the funds management business globally. Based out of NCR, the specialized investment management firm comprises a team which has strong investment and development experience across India.
For further information, please visit our website, www.jllsfg.com About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of US$4.0 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 3.0 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has US$47.6 billion of real estate assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 27,500 employees operating in 80 offices in 15 countries across the region. The firm was named ‘Best Property Consultancy’ in three Asia Pacific countries at the International Property Awards Asia Pacific 2013, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. For further information, please visit our website, www.ap.joneslanglasalle.com