Nuvama and Cushman & Wakefield Management Pvt Ltd (NCW) has raised Rs 1,700 crore under its new real estate fund for making investments in office assets across major cities in India.
The NCW is a Joint Venture (JV) between wealth management firm Nuvama Asset Management and global real estate consultant Cushman & Wakefield.
In a statement on Thursday, the JV firm announced the first close of its Prime Offices Fund (PRIME).
The fund achieved a corpus of around Rs 1,700 crore, it added.
The Fund aims to offer investment opportunities to investors in the Indian commercial real estate sector.
The Fund will focus on Grade A+ offices across key micro-markets in India's top six cities --?Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad.
The Fund targets investments across a portfolio of new developments, as well as completed and leased assets and has already built a robust deal pipeline for deployment.
Anshu Kapoor, President & Head, Nuvama Asset Management said, "We have been