Red Fort Capital Raising $500m Fund

Red Fort Capital, an India-focussed real estate private equity firm, is said to be raising a $500 million fund that will invest in commercial and residential assets in Asia’s third-largest economy, two sources with knowledge of the matter told Reuters. The firm is in the final stages of fund raising said the sources, who declined to be named as they were not authorised to speak to the media before a public announcement, writes Reuters.

(Reuters) – Red Fort Capital, an India-focussed real estate private equity firm, is set to raise $500 million fund that will invest in commercial and residential assets in Asia’s third-largest economy, two sources with knowledge of the matter told Reuters.

The company is in the final stages of fund raising and will formally announce a “closure soon”, said the sources, who declined to be named as they were not authorised to speak to the media before a public announcement.

Subhash Bedi, founding partner at Red Fort, declined to comment.

The private equity fund has made a first close of about $80 million in April last year. (Reporting by Indulal PM and Rajesh Kurup; editing by Malini Menon)