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Alternate Investment Platform for Real Estate Debt
Managed by Walton Street BlackSoil
Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF II) is a SEBI Category II AIF managed by Blacksoil Asset Management Private Limited, a Mumbai-based real estate debt investment platform. The fund is the second in a series of real estate debt funds jointly managed by the WSB platform — an alternate investment vehicle jointly held by the WSB Management Team (Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla) and the Blacksoil Group, chaired by Mohinder Pal Bansal. The platform's roots trace to 2008–09, when the management team began advising third-party institutional and retail capital in Indian real estate. In mid-2021, the Blacksoil Group backed the India Management Team of Walton Street Capital to buy the latter's India Debt business through a Management Buyout, forming WSB Real Estate Partners Pvt. Ltd. The fund focuses on secured debt instruments issued by established residential real estate developers across Mumbai, Bengaluru, and Hyderabad, targeting the affordable and mid-market residential segment. Across Fund I (₹320 crore, raised 2018) and Fund II, WSB has deployed over ₹400 crore.
Kaushik Desai
Managing Partner
Kaushik Desai is Managing Partner at WSB (formerly Walton Street India), with over 25 years of experience. He has been associated with the Group for more than 13 years and is responsible for strategic initiatives and key relationships with funds, investors, and intermediaries. Previously, he held senior roles at Deutsche Bank AG, CRISIL (S&P India), and Edelweiss Capital. He is a Chartered Accountant and Company Secretary.
Vinit Prabhugaonkar
Managing Partner
Vinit Prabhugaonkar is Managing Partner at WSB with over 23 years of real estate experience, associated with the Group for over 15 years. He is responsible for developer and stakeholder relationships, acquisitions, and portfolio asset management. Previously he was Senior Project Manager at ITC's real estate and hospitality division and a founding member of Shapoorji Pallonji's Design & Build division. He holds an MBA (International Business) from ICFAI University and a BE in Civil Engineering from University of Mumbai.
Vimal Jangla
Managing Partner
Vimal Jangla is Managing Partner at WSB with over 18 years of real estate experience, associated with the Group for over 14 years. He is responsible for developer relationships, sourcing and evaluation of acquisitions, and project development oversight. Previously he was Senior Project Manager at K. Raheja Corp (integrated townships) and Project Manager at IL&FS. He holds an MBA (Finance) from ITM Business School and an MSc in Construction Management from University of Mumbai.
Mohinder Pal Bansal
Director & Founding Partner (Blacksoil Group)
Mohinder Pal Bansal is the Founding Partner and Chairman of Blacksoil Group. He provides management and corporate advisory with over 30 years of experience. He has advised corporates including Allcargo Global Logistics, Navneet Education, Prince Pipes, EduHold NV, and Bank of Punjab on M&A, capital markets, fund management, and portfolio integration. He is a Chartered Accountant and serves on the board of six notable companies.
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Ankur Bansal
Co-Founder & Managing Director (Blacksoil Group)
Ankur Bansal is Co-Founder and Managing Director of Blacksoil Group, the strategic and capital partner in the WSB platform. He leads Blacksoil Capital's NBFC and AIF platforms, which have cumulatively disbursed over ₹2,000 crore across startups, developers, and high-growth companies. He is the SEBI-registered contact person for Walton Street Blacksoil Real Estate Debt Fund II.
Dimple Jain
Head of Legal & Compliance
Dimple Jain has been associated with WSB Group (formerly Walton Street India) since September 2008. She has over 13 years of experience in Compliance, Legal, Investor Servicing, Risk, and Company Secretarial. She heads Legal and Compliance at WSB, overseeing fund compliances, regulatory compliances, and secretarial functions. She is a qualified Company Secretary (ICSI), LLB, and BCom from the University of Mumbai.
Rahul Rajendran
Vice President
Rahul Rajendran joined WSB (formerly Walton Street India) in 2015 and has over 9 years of real estate experience. He is responsible for sourcing and evaluating new investment opportunities, deal execution, market research, and asset management. Previously he worked with the Transaction Advisory Group at EY. He is a Chartered Accountant and BCom graduate from University of Mumbai.
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