Mumbai: Private equity firm Saffron Asset Advisors will raise a domestic fund of about Rs150 crore and Rs200 crore over the next three to four months, said a top official at the Mumbai-based firm.
The fund will focus on investments in a niche segment within the residential space, said founder and managing director Ajoy Veer Kapoor. He also ruled out investing in the affordable housing segment. The fund will also have only domestic investors, he said.
Saffron Asset, which invests in the real estate sector, manages two India-focused funds, Saffron India Real Estate Fund (SIREF)–I and Yatra Capital Ltd. While Yatra Capital, listed on Euronext Amsterdam, invests across sectors like retail, commercial, residential, hospitality and IT SEZ, the $350 million - $450 million SIREF-I fund invests in the residential space. Standard Life of UK is SIREF-I’s anchor investor with an investment of $75 million.