OKAS, the real estate private equity arm of the DMI Group, recently launched its second fund with a target of raising $500 million.
The focus will be on delivering high-quality, affordable homes catering to India’s growing middle-class and on building and leasing exceptional Grade A office space, it said in a release.
The lead investor is NIS (New Investment Solutions), a Liechtenstein-based asset management company that had led the earlier round in 2018.
The first fund, launched in 2018, with 11mm square feet under development, has deployed $250 million across 20 real estate projects concentrated in Gurgaon, Noida, Lucknow and Bengaluru.
“We are committed to deepening our engagement in both the residential and commercial developments with this second fund, and grow the OKAS and PARDOS brands into symbols of reliability and quality for both households and companies,” Shivashish Chatterjee, Co-Founder of DMI, said.
OKAS is an initiative within the DMI Alternative Investment Fund – Special Opportunities Scheme, a Category II Alternative Investment Fund. Founded in 2008, DMI is a pan-India digital credit platform that offers digital consumer loans, MSME finance, housing and wholesale funding, and asset management services.
Source : Business Line