Build Nivesh LLP announced the successful close of its first real estate alternate investment fund (AIF), raising Rs 400 million. The fund has reached its final close, achieving a total corpus of Rs 400 million with an additional Rs 400 million in investor commitments for further investment opportunities, expanding the total investible corpus.

The fund will primarily target real estate projects within the Mumbai Metropolitan Region (MMR). "Build Nivesh is a strategic part of our expanding Real Estate Asset Management business under the BUILD brand. We plan to collaborate with Labdhi Lifestyle Limited to invest in four to five projects in MMR, focusing on acquiring significant minority stakes," said Kuldeep Jain, CEO and Co-Founder of Build Capital.

(ET)