Landmark Multiplier Fund — Landmark Capital | wisefolio

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Landmark Multiplier Fund

Managed by Landmark Capital

IN/AIF2/21-22/0928Cat II

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

Landmark Multiplier Fund (IN/AIF2/21-22/0928) is a SEBI-registered Category II AIF managed by LM Capital Advisors Private Limited, open for subscription, under the Landmark Capital brand. The fund is Landmark Capital's second AIF, following the fully closed Landmark Opportunity Fund (IN/AIF2/13-14/0068, managed by Landmark Capital Advisors Private Limited). Landmark Multiplier Fund focuses exclusively on high-quality, built-to-suit warehousing assets in India's top economic hotspots — Pune, Delhi, Mumbai, Ahmedabad, Bangalore — targeting institutional-grade Grade A warehousing with strong leasing potential, driven by the rise of e-commerce, 3PL (third-party logistics), and India's National Logistics Policy. The fund's current active scheme is Landmark Warehousing and Logistics Fund (Final Close Date: 31 January 2024, 4-year tenor). Target corpus: ~INR 500 crore including a green shoe option of INR 200 crore. Target returns: ~18–20%+ gross IRR. Investment size: 6–8 investments of ~INR 50–75 crore each. The fund's investment strategy is to partner at the execution and development stage, enabling capital value creation by entering deals at the right stage and providing active leasing, tenant management, and facility management through Landmark's in-house development expertise. Address: 608, B Wing, Express Zone, Off Western Express Highway, Goregaon East, Mumbai 400097. SEBI contact: Ashish Joshi.

Investment Philosophy

Landmark Capital's investment philosophy is built around four core investment principles: (1) Operational Investor — financial commitment paired with operational involvement; experience and expertise in defining project-level strategy and guiding investee companies in critical business areas; (2) Underpenetrated Markets — search for globally proven but under-penetrated investment opportunities in India; continuously explore under-penetrated asset classes and capitalize on them with minimum turnaround time and a good reward-to-risk ratio; (3) Digitalization — participate in opportunities created by digitalization of the business landscape (particularly e-commerce-driven warehousing demand); (4) Consumption Pattern — constant observation of evolving consumer taste, consumption patterns and business landscape; identify asset classes impacted by and benefiting from structural consumption shifts. For the Multiplier Fund specifically, Landmark Warehousing and Logistics Fund targets Grade A warehousing assets in MMR, NCR, Ahmedabad, Bangalore, and Pune, entering at the execution and development stage to capture capital value creation upside while mitigating land conversion and approval risk. Exit strategy: multiple exit pathways managed at the right stage.

Team— 6

Ashish Joshi

Ashish Joshi

CEO & Managing Partner; SEBI Contact Person

Ashish Joshi has 25+ years of experience in Real Estate, Logistics, and Telecom. He was formerly Managing Partner at Milestone Capital Advisors, where he built a real estate AUM of INR 3,000 crore across 7 real estate funds, with involvement in fund raising, sourcing and closing deals pan India and achieving successful exits at attractive IRRs. He is a Chartered Accountant (CA) and Cost Accountant.

Raj Narain Bhardwaj

Raj Narain Bhardwaj

Board of Directors

Raj Narain Bhardwaj has an illustrious career spanning 40+ years, including as Chairman and Managing Director of LIC. He held directorships at Amtek Auto Limited, LIC Mauritius and Lanka, IRCTC, IFCI, AXIS Bank (formerly UTI Bank), GIC, and NSDL. He holds a Post Graduate Degree in Economics from Delhi School of Economics and a BE from Institute of Engineers.

Tulshiram Patil

Tulshiram Patil

Head – Legal

Tulshiram Patil has 15+ years of experience in real estate properties and legal matters, with expert knowledge of laws and regulations related to land matters. He facilitated the acquisition of 1,100+ acres of land through multiple projects and is adept at drafting, executing, interpreting, and reviewing legal documents. Previously worked for Renaissance Group. Qualifications: MBA, LLB, B.Sc.

Prashant Deshmukh

Prashant Deshmukh

Head – Land Acquisition & Liaoning

Prashant Deshmukh has 13+ years of experience in land acquisition, deal negotiation and finalization, due diligence, and liaison activity. He assists the legal team with documentation processes and liaison with revenue authorities. Previously worked for Renaissance Group. Qualification: LLB.

Dhrumil Ganna

Dhrumil Ganna

Principal – Investment

Dhrumil Ganna has 7 years of experience in deal structuring, business analysis, and risk management. He is responsible for deal sourcing, analysis, and execution. Previously worked with EY in areas related to structuring and taxation. He is a Chartered Accountant and CFA Level III candidate.

Registration

SEBI Registration

SEBI-registered

Reg. NumberIN/AIF2/21-22/0928

VintageSept 2021 · 5 yrs old

Valid ToPerpetual

Contact PersonAshish Joshi

Address608, B Wing, Express Zone, Off Western Express Highway, Goregaon East, Mumbai, Mumbai, Maharashtra, 400097

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