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Integrated real estate capital solutions
Managed by Piramal Fund Management
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
IndiaReit Alternative Investment Trust (IN/AIF2/13-14/0080) is a SEBI-registered Category II AIF managed by Piramal Fund Management Private Limited (PFMPL), formerly known as IndiaReit Fund Advisors Private Limited. PFMPL is the real estate fund management arm of Piramal Group's financial services business. The trust houses the IndiaReit Apartment Fund — a Category II AIF focused on bulk acquisition of residential apartments in Tier I markets at a significant discount, by offering bulk purchases to developers. The fund had its initial close on 22 September 2014; commitments were raised from Indian HNIs and it was fully raised, deployed, and is currently in the process of exiting investments. Exit strategy: sale of apartment units + developer buyback. PFMPL has managed 5 domestic funds (Schemes I–V + Mumbai Redevelopment Fund + IndiaReit Apartment Fund) totalling INR 4,300 crore, 2 PMS strategies, and a third-party mandate. Original SEBI contact: Ujas Popat (ujas.popat@piramal.com). Address: Piramal Tower, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013.
Khushru Jijina
Managing Director, Piramal Fund Management Private Limited
Khushru Jijina led Piramal Fund Management as MD, overseeing the integration of the debt (PFL) and equity (IndiaReit/PFMPL) businesses in 2014 — the pivotal reorganisation that created the integrated platform. He steered the combined platform through the NBFC liquidity crisis and COVID, building a USD 7+ billion real estate lending and fund management business before the Piramal-Shriram deal.
Ujas Popat
SEBI Contact Person (at time of registration, 2013)
Ujas Popat was the SEBI-designated contact person for IndiaReit Alternative Investment Trust at the time of its registration in October 2013. He is reachable at ujas.popat@piramal.com from Piramal Tower, Lower Parel, Mumbai.
View the investment manager profile with all PMS strategies and AIFs under Piramal Fund Management.
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