Bajaj Alternate Investment Management Ltd (Bajaj Alts), the alternative investment arm of Bajaj Finserv Ltd, has raised about ₹950 crore in the first close of its maiden real estate fund, which targets ₹2,000 crore, including a green shoe option.
The fund, Bajaj Alts Real Estate – Growth Fund I, has secured commitments from family offices, institutional investors and high-net-worth individuals, the company said in a statement.
INVESTMENT
The fund will invest in commercial office development through equity joint ventures with established developers, targeting 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.
“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.
Bajaj Alts, a wholly owned subsidiary of Bajaj Finserv, was incorporated in 2025. Its investment offerings span real estate, private equity and listed equities.
The fund has a pipeline of investment opportunities and plans to deploy capital over the coming months, the company said.
Sanchit Bhatia, head of the fund at Bajaj Alts, said the strategy would focus on partnering with established developers to co-develop commercial office assets in key markets.
India’s commercial office market has seen demand from global capability centres (GCCs) and other large occupiers, which the company cited as a driver of its investment strategy.
According to a July report by real estate consultant , 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 its data. More than 40% of the space leased by GCCs was for flexible workspaces. For 2026, GCCs could account for nearly half of Grade A office demand across these cities, the consultancy estimates.