SmartOwner launches private equity firm for real estate

Property investment management firm and marketplace servicing investors in India, SmartOwner Services India Pvt. Ltd., recently announced it has launched a real estate private equity fund. The fund has a currently target of Rs500 crore (approximately $71 million) as well as offers a greenshoe option of the same amount.

In October last year, SmartOwner Capital Growth Fund I was registered with the Securities Exchange Board of India (SEBI) as a Category-II real estate alternative investment fund.

The fund’s portfolio is expected to comprise asset classes in real estate such as co-working and commercial spaces.

SmartOwner said in a release that strong projected growth in commercial and residential real estate markets, high inflation-adjusted returns, and opportunities from the sale of distressed assets due to Real Estate (Regulation and Development) Act (RERA) make Indian real estate profitable to invest in.

SmartOwner was launched in 2012. Vikram Chari is the founder and chief executive of SmartOwner. It was in 2012 that early-stage venture capital firm Prime Venture Partners had invested in SmartOwner. A bunch of funds have been launched or are waiting to be registered with SEBI in recent months.

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