New Delhi: Arka Investment Advisory Services Pvt Ltd (AIASPL) plans to raise Rs 500 crore from investors for its new fund dedicated to residential real estate.
In a statement on Wednesday, the company said it has launched their second alternative investment fund -- Arka Hreem Real Estate Opportunities Fund.
Rohan Builders, a real estate and Engineering, Procurement and Construction (EPC player), joined as the operating partner for the fund through its financial services arm Hreem.
The fund's first scheme -- Arka Hreem Real Estate Opportunities Fund I (Arka Hreem Fund) has a target size of Rs 500 crore and a green shoe of Rs 250 crore with a focus on residential real estate opportunities in India.
This launch follows the successful final closing of Arka's maiden private credit fund.
Arka Hreem Fund is strategically designed to bring in investments in the residential sector in India.
The Fund shall be focused on Tier 1 cities and invest with Grade A developer partners.
It is managed by AIASPL and sponsored by Arka Financial Holdings Pvt Ltd -- the financial services platform backed by Kirloskar Oil Engines Limited.