Bajaj Alternate Investment Management Ltd (Bajaj Alts), the alternative investment arm of Bajaj Finserv Ltd, has successfully raised ₹950 crore in the first close of its maiden real estate fund. According to reports from Mint, the fund, Bajaj Alts Real Estate – Growth Fund I, has secured commitments from family offices, institutional investors and high-net-worth individuals. The fund targets ₹2,000 crore including a green shoe option, demonstrating strong investor confidence in the real estate investment strategy.
The fund will focus on commercial office development through equity joint ventures with established developers, targeting Grade A office assets in key Indian markets. As reported by Mint, the strategy combines developers' construction capabilities and market access with institutional capital, disciplined underwriting and active investment oversight. This equity-led approach differs from traditional real estate investment strategies in India that have historically focused on debt financing for residential developers or acquisition of existing core assets. Sanchit Bhatia, head of the real estate fund at Bajaj Alts, emphasized the strategy would focus on partnering with established developers to co-develop commercial office assets in key markets, giving investors an opportunity to participate in value creation from high-quality real estate projects favored by corporates and GCCs.
India's commercial office market continues to benefit from structural demand from Global Capability Centres (GCCs) and other large occupiers, creating favorable conditions for the fund's investment strategy. According to a July report by real estate consultant Anarock, GCCs accounted for 45% of the 42.6 million sq ft of gross office leasing across the top seven cities. The consultancy estimates that GCCs could account for nearly half of Grade A office demand across these cities for 2026, with more than 40% of space leased by GCCs being for flexible workspaces. The fund will seek to build a high-conviction portfolio across select cities offering growth opportunities, with its pipeline of transactions expected to provide visibility for deploying capital over the coming months.
Bajaj Alts, a wholly owned subsidiary of Bajaj Finserv, was incorporated in 2025 and offers investment opportunities across real estate, private equity and listed equities. As reported by Mint, the fund has a strong pipeline of investment opportunities and plans to deploy capital over the coming months. Lakshmi Iyer, group president – investments and managing director and chief executive officer of Bajaj Alts, expressed satisfaction with the strong response to the maiden real estate fund and thanked investors for their confidence in the company. She stated that this first fund raise sets the foundation for building a broader and diversified alternatives platform for investors, with the company's endeavor being to deploy capital with discipline, backed by rigorous research, prudent risk management and strong governance. "Our endeavour is not simply to deploy capital, but to do so with discipline, backed by rigorous research, prudent risk management and strong governance. As we continue to build our alternatives platform, our focus remains on creating sustainable long-term value for our investors," Iyer added.
