Altern Capital, an investment management company, has introduced its first SEBI-approved category II alternative investment fund (AIF) named JIRAAF AU INDIA REAL ESTATE FUND - I (JIREF I). The fund aims to raise Rs 2.5 billion, with an additional greenshoe option of Rs 1 billion. AI Growth sponsors JIREF I.

JIREF I will primarily focus on plotted development and last-mile funding, with a fund tenure of four years. (Source: ET)