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Funds -- Active Funds -- IIRF I
ILFS India Realty Fund I
Corpus : US$ 525 mn
Vintage : 2006
Focus : Real Estate
Status : Fully Invested
Number of Investments : 17
No. of Divestments* : 6

IL&FS India Realty Fund is one of the largest real estate focus fund in India, with over US $ 525 mn as its corpus. The fund was closed in June 2006 after an exhaustive due diligence process, spanning over 6 months, undertaken by marquee international investors. The fund contributors include reputed limited partners including financial institutions, pension funds and endowments.

IIML has advised investments totaling 17 transactions for the Fund, which ensures a diversified portfolio of real estate investments that comprise income producing assets, redevelopment opportunities and ground-up development projects and across geography. Opportunities arise from the expansion of the organized retail centre, commercial space requirement for IT/ IT Enabled Services, adaptive re-use of industrial land, development of integrated townships and special economic zones.

The Fund attracted high quality investors as well as large commitments, with individual investors committing US$ 100 mn in certain instances. The size, quality of investors and quantum of individual commitments received sets this fund apart from all previous funds of IIML. Its success provides IIML recognition in the international markets and opens avenues for it to play a larger role in the private equity space in India.

The Fund has attained a liquidity event, with one of its portfolio company going public. The fund is currently in exit mode.

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