Altern Capital Launches Maiden Real Estate Fund Targeting ₹250 Crore

Altern Capital Introduces JIREF I: A New Player in Real Estate Investment

Altern Capital, a Mumbai-based investment firm, has made a significant move in the real estate sector by launching its maiden real estate fund, JIREF I (JITO Real Estate Fund I). The fund has set an ambitious target of raising ₹250 crore, with an additional greenshoe option of ₹100 crore 1

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Fund Strategy and Focus

JIREF I is designed as a Category II Alternative Investment Fund (AIF) with a clear focus on the residential real estate market in India. The fund's primary strategy is to invest in mid-income and affordable residential projects across major Indian cities. This approach aims to capitalize on the growing demand for housing in urban areas while potentially offering attractive returns to investors 2

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Investment Targets and Expectations

The fund has set its sights on investing in 8-10 residential projects over its lifespan. Each investment is expected to range between ₹15 crore to ₹50 crore, allowing for a diversified portfolio of projects. Altern Capital anticipates generating returns in the range of 18-22% for its investors, highlighting the potential profitability of the residential real estate sector in India 3

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Market Timing and Opportunities

The launch of JIREF I comes at a time when the Indian real estate market is showing signs of robust growth. Altern Capital's decision to enter this space is backed by positive market indicators, including increased demand for housing, especially in the mid-income and affordable segments. The fund aims to leverage these favorable market conditions to generate value for its investors 1

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Management and Expertise

JIREF I is being managed by a team of experienced professionals led by Altern Capital's founding partners, Mukesh Tiwari and Sanjay Laxmandas. The team brings a wealth of experience in real estate investment and development, which is expected to play a crucial role in identifying lucrative investment opportunities and managing the fund's portfolio effectively 2

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Investor Interest and Fund Structure

The fund has already garnered significant interest from high-net-worth individuals (HNIs) and family offices. This early traction suggests a strong appetite for real estate investment opportunities among Indian investors. JIREF I is structured as a close-ended fund with a tenure of four years and an option to extend by one year, providing a defined investment horizon for participants 3

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