Saffron Group Wants Foremost Place In Realty Funding

Real estate private equity firm Saffron Group on 25th may said it has chalked out a two-sided plan to become a leading player in the market staying put for a minimum 5 yrs in upcoming properties and buying out properties with assured rental income.
The Group, a brainchild of Ajoy Veer Kapoor and his peers from the banking society, is the promoter of Euronext listed Yatra Capital, an India-focused real estate fund. It has also launched Saffron India Real Estate Fund-1.
“Our plan is to be a foremost player in the field. We don’t have any short-term view. The industry is rising and it will yield better results for another 10-15 years,” Kapoor said.
Yatra Capital has already raised two hundred twenty million euro through two public offers and has invested almost 75 % of that in the Indian real estate market.
The Saffron India Real Estate Fund I, launched in Feb 2008, is raising a USD 350-450 million unlisted fund, with a hard cap of USD 500 million. It has done a first close on 3 Apr 08 with an anchor investment of USD 75 million from Standard Life UK. It is expected to close by the end of 2008.

One Comment

  1. Posted June 4, 2008 at 5:30 am | Permalink

    Fund manager Saffron Asset Advisors is raising a maximum of five hundred million dollar through an India- focused real estate fund

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