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Investing in Mumbai's Urban Renewal.
Mumbai Redevelopment Opportunities Fund (MROF) is a SEBI-registered Category II Alternative Investment Fund (reg. IN/AIF2/23-24/1423), registered in January 2024 and managed by 3P Investment Managers Private Limited (CIN: U67110MH2022PTC391408, incorporated September 30, 2022) — a Mumbai-based real estate investment manager specialising in Mumbai redevelopment projects. The fund is operated under the Strategem brand (strategem.in) and is headquartered at Nirlon House, Dr. Annie Besant Road, Worli, Mumbai 400030. The fund specifically targets redevelopment projects — the conversion of old residential buildings, chawls, or societies in Mumbai into modern, high-value residential or mixed-use developments — which have been a significant driver of Mumbai's real estate supply in the last decade. Ranjeet Pawar is the SEBI-designated contact person. Mumbai redevelopment is a high-complexity, high-return real estate strategy driven by Mumbai's severe land scarcity, FSI incentives, and the city's ongoing transformation under DCPR 2034 (Development Control and Promotion Regulations). 3P Investment Managers provides the financial and project management expertise to bridge capital gaps in this specialized sector.
The Mumbai Redevelopment Opportunities Fund is built on the thesis that redevelopment projects in Mumbai represent a structurally attractive real estate investment opportunity — driven by the city's massive urban renewal pipeline (millions of sq. ft. of ageing housing stock eligible for redevelopment), regulatory incentives under DCPR 2034 (increased FSI), and chronic shortage of new land parcels. The fund targets projects at critical capital deployment junctures — land aggregation, tenant relocation, and construction commencement — where specialized capital from a structured AIF vehicle can unlock projects that conventional bank lending or developer equity alone cannot fund. 3P Investment Managers (the '3P' likely referencing three principals or the PPP/partnership model) brings specialist project evaluation, legal, and financial structuring expertise to navigate the complexity of Mumbai's redevelopment consent and regulatory landscape.
Ashwani Kumar
FMPortfolio Strategist & Co-Investment Manager
Portfolio Strategist and Co-Investment Manager at 3P Investment Managers. Has nearly 29 years of research and fund management experience. Started managing Reliance Vision Fund in 2003 and was a key member of the team at Reliance Mutual Fund (now Nippon India Mutual Fund) that scaled AUM from ₹200 crore in June 2003 to ~₹90,000 crore in February 2020. Worked with Nippon AMC for 17 years before joining 3P. Graduate of the University of Pune with an MBA in Finance.
Prashant Jain
Founder & CIO
Founder and Chief Investment Officer at 3P Investment Managers. Has 34 years of experience in Indian equities. B.Tech from IIT Kanpur and PGDM from IIM Bangalore. Started his career with SBI Mutual Fund (1991–1993), then set up 20th Century Mutual Fund which became Zurich India Mutual Fund, later acquired by HDFC Mutual Fund in 2003. Served as CIO at HDFC Mutual Fund from 2004 to 2022, during which AUM grew from ~₹3,000 crore to ~₹4,40,000 crore. The only Indian fund manager to have continuously managed a single scheme for over 28 years — HDFC Balanced Advantage Fund delivered a CAGR of ~17.9% vs Sensex CAGR of ~9.6% from January 1994 to July 2022. India's most awarded fund manager and the first to manage over ₹1 lakh crore in equity assets. Co-founded 3P Investment Managers in 2022.
Ranjeet Pawar
SEBI Contact Person / Managing Partner
Ranjeet Pawar is the SEBI-designated contact person for Mumbai Redevelopment Opportunities Fund at 3P Investment Managers Private Limited. He is the primary investment professional and likely co-founder of the Strategem/3P Investment Managers platform. He is contactable via info@strategem.in from the fund's Nirlon House, Worli office.
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Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.
Sharad Mohnot
Co-Founder
Co-Founder of 3P Investment Managers. SEBI contact person for the 3P India Equity Fund AIF registration.