Speaking to reporters here on Thursday, Rubi Arya, vice chairman & director, Milestone Capital Advisors said the fund is all set to close the first round by end of September, which will see a sum of Rs 200 crore being mopped up from investors. It would take another six months to raise the balance money.
Milestone has over Rs 3,700 crore of capital across nine funds, including 2 offshore, in real estate, health care, education and bullion products, managing investments for over 16,500 investors. The PE firm will be looking at partners (developers) in the NCR, Mumbai, Pune, Bangalore and Chennai for residential real estate projects, to be executed under the new fund.
The PE firm has invested Rs 220 crore from three funds across multiple investments in Chennai and Pondicherry in residential and commercial projects.