Bajaj Alts closes ₹950 crore in first real estate fund
Bajaj Alternate Investment Management Ltd (Bajaj Alts) has raised about ₹950 crore in the first close of its maiden real estate fund. The fund, Bajaj Alts Real Estate Growth Fund I, targets a total of ₹2,000 crore, including a green shoe option.
Commitments came from family offices, institutional investors, and high-net-worth individuals, the company said in a statement.
What the fund targets
Bajaj Alts is the alternative investment arm of Bajaj Finserv Ltd and was incorporated in 2025. The new fund will invest in commercial office development through equity joint ventures with established developers, focusing on Grade A office assets in key Indian markets.
The strategy will allow investors to participate in the development and value creation of office projects, rather than focus on debt financing or acquiring completed properties.
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Commercial office demand
India's commercial office market has seen demand from global capability centres. GCCs accounted for 45% of the 42.6 million sq ft of gross office leasing across the top seven cities in the period covered by a July Anarock report.
The consultancy estimates GCCs could account for nearly half of Grade A office demand across these cities in 2026.
“We are pleased with the strong response to our maiden real estate fund and are grateful to our investors for their confidence in Bajaj Alts.
This first fund launch marks an important milestone in our journey and sets the foundation for building a broader and diversified alternatives platform for our investors,” said Lakshmi Iyer, group president – investments and managing director and chief executive officer of Bajaj Alts.
Sanchit Bhatia, head of the real estate fund at Bajaj Alts, said the strategy would focus on partnering with established developers to co-develop commercial office assets in key markets. The company has a pipeline of investment opportunities and plans to deploy capital over the coming months.
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