Arnya RealEstates Fund Advisors has launched a Rs 7.5 billion (bn) preferred equity fund in partnership with Casagrand Premier Builder Limited, the firm said. The vehicle is structured as a Securities and Exchange Board of India registered Category II alternative investment fund with an investor?first cash?flow waterfall that returns capital and distributions to investors before residual proceeds accrue to the developer. Founded in 2023, Arnya said this is its third fund and that it has built a platform managing approximately Rs 30 billion (bn) across multiple real estate strategies.\n\nCasagrand, which is pursuing an initial public offering, brings a large development portfolio to the tie-up. The company has a portfolio of more than 88 million square feet (msf) across over 180 projects, and as of June 30, 2026 it had delivered 103 completed projects comprising 21.79 msf of saleable area, 57 ongoing projects spanning 44.10 msf and 21 forthcoming projects with an estimated 23.81 msf of saleable area. Casagrand’s projects cover Chennai, Bengaluru, Hyderabad, Coimbatore, Pune and Dubai.\n\nArun Mn, founder, chairman and managing director of Casagrand Premier, said the group views institutional capital as increasingly important for long?term residential growth and that the partnership with Arnya is intended to establish a scalable platform for high?quality developments across southern India. Sharad Mittal, founder and chief executive officer of Arnya RealEstates Fund Advisors, said the residential sector has strengthened owing to regulatory reforms, formalisation and sustained demand, and that the firm is focused on structured investment products which seek a better balance of risk and return while aligning investor and developer interests.\n\nArnya said the strategy is aimed at family offices, ultra?high?net?worth individuals, institutional and sophisticated investors seeking diversified exposure to India’s residential market through a regulated institutional platform. Earlier this year the firm announced the first close of its residential equity fund at more than Rs 10.3 billion (bn). Arnya is building a real estate investment platform spanning debt, equity, preferred capital and core assets.