Keventer, Saroj Poddar groups launch $41.5M real estate debt fund

What's the deal? The Kolkata-based Keventer GroupDealroom has a profile for this one. Try Dealroom → and Saroj Poddar GroupDealroom has a profile for this one. Try Dealroom → have launched a US$54.3M real estate debt fund under manager AdventzDealroom has a profile for this one. Try Dealroom →. The Poddar Keventer Real Estate Fund — Scheme IDealroom has a profile for this one. Try Dealroom → is a Category II Alternative Investment Fund (AIF), targeting projects in Delhi-NCR and West Bengal.

The details: The fund carries a target corpus of US$54.3M, plus a US$27.2M greenshoe option that could take the total to US$81.5M. It follows a secured real estate debt strategy and is targeting a gross internal rate of return (IRR) of 18–22% before expenses.

Why now? The vehicle marks the first such fund launched by a real estate developer from West Bengal, according to the sponsors.

The signal: By pairing property development expertise with a debt-focused AIF, the two groups are positioning themselves as lenders to projects in two of India's active property markets — a move that extends their reach beyond building into financing.

Read more: ptinews.com

Image credit: Earth Infrastructures