New Delhi, NFAPost: Following the success of the firm’s first fund, launched in 2018, OKAS, the real estate private equity arm of the DMI Group, has recently launched its second real estate fund.
The primary focus of the second fund, targeted at $500 million, will be on delivering high-quality, affordable homes catering to India’s growing middle class and on building and leasing exceptional Grade A office space.
The first fund, with 11mm square feet under development, has deployed $250 million across 20 real estate projects concentrated in Gurgaon, Noida, Lucknow and Bangalore.
The lead investor is NIS (New Investment Solutions), a Liechtenstein – based asset management company that had led the earlier round in 2018.
DMI Cofounder Shivashish Chatterjee said a vibrant real estate sector with credible participants is critical for India to realize its goal of a $5Tr economy in the near term.
“We are committed to deepening our engagement in both residential and commercial development with this second fund and grow the OKAS and PARDOS brands into symbols of reliability and quality for both households and companies,” said DMI Cofounder Shivashish Chatterjee.
DMI Cofounder Yuvraja C Singh commented that the customer for real estate in India has become more discerning and expects not only a top-quality product and timely delivery, but also transparency, consistency, and accountability.
“We are proud that we have been able to deliver on these objectives and complete all of our earlier projects ahead of the committed timelines. We are confident that we will be able to continue to create a new benchmark for quality with our upcoming work,” said DMI Cofounder Yuvraja C Singh.
About OKAS
OKAS is an initiative within the DMI Alternative Investment Fund – Special Opportunities Scheme (Scheme II), a Category II Alternative Investment Fund registered with SEBI. For more details, please visit www.okas.co.in.
About DMI Group
Founded in 2008 and supported by a deeply experienced team across 40 offices in India, DMI is a PAN-India credit platform with digital consumer loans, MSME finance, housing and wholesale funding, and asset management as its core businesses. It is a technology-first lender with class-leading digital finance initiatives. It is supported by global institutional investors, strategic family offices, leading banks, and public market creditors in India. For more details, please visit www.dmifinance.in.
