Capri Capital bets on India; plans dedicated realty fund

Large global institutional investors seem to have a developed a renewed interest for Indian realty.
By: Corporate Communications Team
 
CONNAUGHT PLACE, India - Feb. 13, 2014 - PRLog -- Large global institutional investors seem to have a developed a renewed interest for Indian realty. The

latest in the list is Chicago-headquartered hedge-fund 'Capri Capital Partners' which has big plans for

growing in country through its India arm - Capri Global Capital. Considering this, CNBC TV18's Manasvi

Ghelani finds out what's attracting global investors to Indian realty at a time when domestic banks are

shying away from exposing themselves to the sector.

With domestic investors and banks cautious of lending to the Indian real estate sector given the current

economic scenario, foreign investors are coming to the rescue. So after Blackstone, its US based hedge

fund Capri, which is now investing big in India through its arm - Capri Global Capital.

The company has recently signed a deal with real estate developer Monarch Universal Group to fund Rs

45 crore for two residential projects in Roadpali and Kalamboli in Mumbai.

Besides, in the last nine months Capri has invested a total of about Rs 200 crore for partnerships with

Marvel Group in Pune, CHD Developers in Delhi and Ozone & Unishire Group in Bangalore.

Reports also suggest, Capri is planning to launch its first India-dedicated real estate private equity fund

to raise about USD 400 million soon after the elections.

And the management says their strategy is already yielding positive returns.

“The banks pulled back and that gave us the opportunities to step up so we had significant appointment

of capital in the last 12 months. We have experienced very strong credit performance, in terms of

delinquencies, they have been very low. We have been able to generate 20% of returns on monies we

have let out in the market,” Quintin E Primo III, Chairman, Capri Global Capital says.

On the other hand this is good news for cash-strapped Indian developers as well.

Sanjay Dutt, Executive MD - South Asia, Cushman & Wakefield says: “It is important that you to de-
risk your projects and basically have equity partnership and therefore not necessarily invest too much

money from your pocket. So that has resulted in a lot of play between developers and PE firms.”

But despite this renewed interest from global investors, analysts say more needs to be done to help

developers and all eyes are now on the new government's policies post elections to see if it can get in

more FDI for the realty sector as well as push through REITS.

Source: http://capriglobalcapital.blogspot.in/2014/02/capri-capit...

Media Contact
Fortuna Pr
online@fortunapr.in
911147989000
End
Source:Corporate Communications Team
Email:***@fortunapr.in Email Verified
Tags:Capri, Global
Industry:Business, Financial
Location:Connaught Place - Delhi - India
Subject:Features
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Fortuna PR PRs
Trending News
Most Viewed
Top Daily News



Like PRLog?
9K2K1K
Click to Share