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JLL plans to launch Rs 12 bn realty fund
By the end of this year, Jones Lang LaSalle (JLL) plans to launch a real estate private equity fund with a corpus of Rs 1,200 crore.
The fund is expected to focus on office properties, the US-based property brokerage said. This is the second fund of the company.
The company launched a Rs 300-crore fund late last year to invest in residential properties. While the first fund was domestic, no decision has been taken yet on whether the next one would be offshore or home-bound.
Meanwhile, the company's first fund is close to investing in a Bangalore housing project, according to reports. The segregated funds group is also studying prospectus of launching funds in retail and hospitality sectors.
The funds business can do funds in all sub sectors in real estate. The first fund had smaller corpus as they were looking at Rs 25 to Rs 30 crore deals in city-centric, smaller projects, reports indicate.
An industry source said International property consultants advise a lot of realty funds directly or indirectly and service many high net worth investors. Hence, it is a natural extension for them.
There is inherent conflict of interest. That’s why the funds are never sponsored by IPCs and aspects such as valuation are outsourced.
By the end of this year, Jones Lang LaSalle (JLL) plans to launch a real estate private equity fund with a corpus of Rs 1,200 crore. The fund is expected to focus on office properties, the US-based property brokerage said. This is the second fund of the company. The company launched a Rs 300-crore fund late last year to invest in residential properties. While the first fund was domestic, no decision has been taken yet on whether the next one would be offshore or home-bound. Meanwhile, the company's first fund is close to investing in a Bangalore housing project, according to reports. The segregated funds group is also studying prospectus of launching funds in retail and hospitality sectors. The funds business can do funds in all sub sectors in real estate. The first fund had smaller corpus as they were looking at Rs 25 to Rs 30 crore deals in city-centric, smaller projects, reports indicate. An industry source said International property consultants advise a lot of realty funds directly or indirectly and service many high net worth investors. Hence, it is a natural extension for them. There is inherent conflict of interest. That’s why the funds are never sponsored by IPCs and aspects such as valuation are outsourced.