New realty fund soon from Jones Lang LaSalle

Property consultancy firm Jones Lang La-Salle (JLL) India has set up a new entity JLL Segregated Funds Group to raise funds to invest in the Indian real estate market. The new entity will be launched soon in the domestic market. Capital market regulator Securities & Exchange Board of India ( Sebi) has approved the proposed fund, which will be a close-ended one with a six-year tenure. Mridul Upreti, CEO, JLL Segregated Fund Group said that it is the first one among a series of funds that JLL is planning to launch in the next few months. The proposed fund will focus on city-centric residential projects with shorter cycles and high-equity returns. Though the fund will be looking at investments based on opportunities, the focus will be on residential projects in tier-I cities. It will be aiming to fetch internal rate of return of 20-25 per cent, and the average investment size is likely to be around 25-30 crore.