Milestone Capital plans to raise Rs. 500 cr for real estate fund.

Real estate private equity player, Milestone Capital Advisors plans to raise Rs. 500 crore from investors to fund real estate projects in five markets including Mumbai, NCR, Bangalore, Pune and Chennai.

Initially, the company plans to raise Rs. 200 crore, while the remaining fund will be closed in the next six months. Company looks to attract investors from Gujarat to raise the funds.

The Rs. 500-crore structured debt fund Milestone Opportunities Fund 10, will invest in mid-sized residential apartment projects in five key markets, Mumbai, National Capital Region, Bangalore, Pune and Chennai.

Commenting on the prospects for the fund, Rubi Arya, Vice-Chairman & Director, Milestone Capital Advisors Limited said, 'Factors like location, developer credibility and pricing will be the key to take a call on investment in any project in these markets. We will have HNIs and institutional investors including public sector banks, corporate for our fund.'

The fund aims to generate return (IRR) upwards of 22-24 per cent through a combination of structured debt and equity.


HBL