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Redefining Real Estate Investment through Rigorous Tech-Enabled Processes.
Managed by Altern Capital
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Jiraaf Au India Real Estate Fund (full name: JIRAAF AU India Real Estate Fund – I, 'JIREF I') is a SEBI-registered Category II Alternative Investment Fund (reg. IN/AIF2/23-24/1394), registered in November 2023 and managed by Altern RE Investment Advisors Private Limited (brand: Altern Capital) — a Bengaluru-based real estate-focused investment management firm. The fund has a target corpus of ₹250 crore with a ₹100 crore greenshoe option (total ₹350 crore), and a 4-year targeted tenor. It is sponsored by AI Growth Private Limited (parent of Jiraaf, the SEBI-registered Online Bond Platform, and AltGraaf, the alternative investment platform), under its brands 'Jiraaf' and 'AltGraaf'. Altern Capital was co-founded by Navin Dhanuka (Founder & CEO, ex-Piramal Capital, ex-Walton Street Capital, ex-Ernst & Young, 21+ years real estate investment experience). The fund is headquartered at 11th Floor, HMG Ambassador, Residency Road, Bengaluru 560025 — which is also the headquarters of ArisUnitern RE Solutions, a strategic development management partner. The 'Au' in the fund name refers to ArisUnitern (the development management partner) and Jiraaf's 'U' (for 'Unlimited') brand. The fund is distinct from Unitern/ArisUnitern itself — Unitern is a development management company (PMC) that is a key channel partner, while Altern Capital manages the investment fund. Ritesh Singhal (DIN 09484229) — Director of Altern RE Investment Advisors Pvt Ltd and MD of NatureResidences — is the SEBI contact person.
Navin Dhanuka
Founder & CEO, Altern Capital
Navin Dhanuka is the Founder and CEO of Altern Capital and co-founder of ArisUnitern RE Solutions. He has 21+ years of experience in real estate investments in India, with prior leadership roles at Piramal Capital, Walton Street Capital, and Ernst & Young. He is the primary investment professional managing JIREF I.
Ritesh Singhal
Director / SEBI Contact Person
Ritesh Singhal (DIN 09484229) is a Director of Altern RE Investment Advisors Private Limited and serves as the SEBI-designated contact person for the Jiraaf Au India Real Estate Fund. He is also MD of NatureResidences Development Private Limited and associated with ArisUnitern Soulitude Private Limited. He is quoted in ArisUnitern testimonials as a key partner.
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View the investment manager profile with all PMS strategies and AIFs under Altern Capital.