Piramal Fund Management is looking to expand Rs.22000 crore portfolio by end of March

Q: One of the most active investors in the property sector for the past 2 yrs. in Mumbai is looking to expand its assets under management by over a 5th to Rs 22000 crore by the end of March.

Miraniyatin, Mumbai

22nd December 2015

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Replies (3)

Right Balmiki,
And the Apartment Fund seeks to buy residential units from developers at a discount to popular market price, by offering to purchase in bulk. The Rs 500 crore Redevelopment Fund, launched in mid-2012, has fully been deployed, while 60% of the Rs 570 crore apartment fund, which was launched in 2014, has been invested.

Dharmaja Patel, Mumbai

22nd December 2015

Comment

Yes, and now they are looking at a second round of fund which that is to be launched in the first half of 2016. It is expected that this will be of a similar size as the first one. And it come to know that the apartment fund will be launched in the quarter ending December 2016.

Balmiki Halder, Guwahati

22nd December 2015

As per the recent news, Piramal Fund Management has 10 schemes, 7 of them domestic, 2 offshore funds and the remaining a third-party order. It has made exits valued at Rs 2100 crore, including profits, through 14 complete and as many partial exits. It raised Rs 7400 crore since beginning in 2006 and deployed Rs 13000 crore, including debt.

ajit pandey,

22nd December 2015

Comment

Right Ajit and for offshore funding, Piramal Fund Management is looking to build partnerships with patent capital providers such as pension and sovereign funds, rather than raising plain vanilla private equity funds.

Jewel, Noida

22nd December 2015

Yes and for debt, they already have a strong partner, Canada Pension Plan Investment Board, with them. For equity exposure, will will tie up with one more international entity soon.

ajit pandey,

22nd December 2015

@Ajit,
In the last few years, Piramal Fund Management launched new funds, including the Mumbai Redevelopment Fund and Apartment Fund that clicked with the developers.

The Mumbai Redevelopment Fund aimed at financially supporting redevelopment projects in Mumbai and in the process free up large land parcels to improve the supply pool.

Balmiki Halder, Guwahati

22nd December 2015

And this will include over Rs 16000 crore of debt portfolio, equity and advisory business. Currently, it has Rs 18000 crore of assets under management, including Rs 5000 crore equity.

ajit pandey,

22nd December 2015

Comment

@Ajit,
Following the 2014 co-ordination, Piramal Fund Management has tripled its portfolio twice in the debt segment alone. In January 2014, their combined debt portfolio was Rs 1600 crore, which grew to Rs 4300 crore in March 2015 and by next March we will be more than Rs 16000 crore

Balmiki Halder, Guwahati

22nd December 2015