HYDERABAD:Jones Lang LaSalle’s Segregated Funds Group today announced the first closing of its maiden real estate fund in India, Residential Opportunities Fund – I (ROF – I).
The group raised Rs 101 crore of capital commitments in its first closing, in line with the Rs 300-crore fund-raising target, according to a statement from Jones Lang LaSalle.
The Segregated Funds Group is a new entity set up by the global real estate consultancy firm Jones Lang LaSalle. Its mandate is to raise a series of funds with dedicated investment themes for the Indian real estate market.
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 the residential sector in prominent locations across seven cities of Delhi NCR, Mumbai Metropolitan Region, Bangalore, Chennai, Kolkata, Hyderabad and Pune.