Nuvama and Cushman & Wakefield’s joint venture raises Rs 1,700 crore
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NEW DELHI: Nuvama and Cushman & Wakefield Management (NCW), a joint venture between Nuvama Asset Management and Cushman & Wakefield, has raised about Rs 1,700 crore through its prime offices fund (PRIME).
Anshu Kapoor, president & head, Nuvama Asset Management said, “We have been able to achieve a first close within nine months of commencing our fund-raising efforts. We intend to achieve the targeted Rs 3,000 crore fund size in the next two quarters. We are now on the threshold of making our first investment.”
The fund aims to offer investment opportunities to investors in the Indian commercial real estate sector and will focus on Grade A office spaces in top six cities—Bengaluru, National Capital Region (NCR), Pune, Mumbai, Chennai, and Hyderabad.
It will target investments across a portfolio of new developments, as well as completed and leased assets and has already built a robust deal pipeline for deployment.
Anshul Jain, chief executive – India, Southeast Asia & APAC Tenant Representation, Cushman & Wakefield said, “This successful first close of the Prime Offices Fund (PRIME) reflects the growing confidence in India’s commercial real estate market and the trust our investors have placed in us.”
Nuvama oversees Rs 4,41,276 crore of client assets. It caters to clients which include about 12 lakh affluent and HNIs and over 4,050 of India’s most prosperous families, as of Q2 FY25.