WSB, an Indian property investment provider, has raised more than Rs 850 crore through its co-investment fund and services, surpassing its initial target of Rs 500 crore. The company said this underscores the continued trust investors have placed in its expertise in managing third-party capital invested in real estate.
WSB aims to partner with developers known for their strong track records of execution and delivery, contributing to the growth of the real estate sector in India.
“This fundraising success is a testament to the confidence investors have in our ability to identify and execute real estate opportunities to deliver attractive risk-adjusted returns. In the current fund, WSBREDF II, more than two-thirds of the fund is used in twelve trades, which guarantees two exits with a gross IRR of ~23%,” said Kaushik Desai, Managing Partner and Investment Committee Member of WSB. “Among our major development partners, some notable names include Bollineni Group, Shapoorji Pallonji and Jain Housing.”
The fund has successfully raised capital from a diverse group of investors, including family offices, large corporate firms, and domestic and foreign High Net Worth Individuals (HNIs). This diversified investor base underscores the appeal of WSBREDF II's investment strategy and the recognition of its potential in the Indian residential market.
“We remain committed to the growth and development of the Indian real estate sector. In the last four to five years, more than 12,000 homes have been developed/delivered through our portfolio, spread across 40 projects,” Desai said.
Since its inception in 2013, WSB Real Estate Partners has managed and allocated over Rs 2,000 crore of debt capital to the residential real estate sector. With a presence in five major metropolitan areas and participation in approximately 40 real estate transactions, the group has already achieved exits/partial exits in more than 75% of the transactions, demonstrating a successful investment track record.