Promoted by Shashi Kiran Shetty, Chairman and Managing Director of Allcargo Logistics, and Gnanesh Gala, Managing Director of Navneet Education, the fund has its focus on the Mumbai, Navi Mumbai and Thane real estate market and has built in a co-investment structure to aid its investors to take bigger selective bets, the company said in a statement.
BlackSoil’s debut fund recently did its initial closing at Rs. 129 crore and plans to invest the residual amount within the next one-and-a-half years, the statement added.
“This investment will act as proof of our focus and strategy and help us to raise further funds for our other deals through co-investment structure. The Fund plans to invest in overall 5-6 deals with an average transaction size of around Rs. 20-40 crore each,” said Mohinder Bansal, Managing Partner of BlackSoil Realty Investment Advisor LLP. Business Line
