MUMBAI: Axis RERA Opportunities Fund – I has entered into a deal to invest Rs 60 crores in Chennai-based realty developer Akshaya Group. This is the first investment of Axis AMC’s maiden real estate alternative investment fund, Axis AMC said in a release.The Axis RERA Fund has invested in Akshaya’s township project Orlandoat Kelambakkam, on the Old Mahabalipuram Road (OMR) in Chennai.
Axis AMC has recently raised Rs 400 crore through this maiden real estate fund, the Axis RERA Opportunities Fund – I (Axis RERA Fund). The investors of this fund include domestic institutions, high networth investors (HNIs) and the sponsor Axis AMC.
The fund is targeting investments, through structured debt route, in the top 8 cities of India and aims to work with developers with an established track record of delivery and who show potential and capability for future growth.