News & Views on Indian Real Estate

Friday, August 01, 2008

Red Fort Capital inks partnership deal with Godrej Properties

Red Fort Capital, a leading international real estate private equity fund firm, has signed partnership deal with Godrej Properties Limited, one of the leading real estate development companies. The deal will mark Red Fort Capital’s entry in the Kolkata real estate market.The company has taken a 49% stake in an IT Park project named “Godrej Genesis”. The Godrej Genesis project is an IT Park located in the heart of Kolkata’s Salt Lake Sector V, situated between the international airport and the city center. The project, which will be developed over a span of three years, expects to generate sales of over Rs 750 crore. Red Fort Capital manages three active funds under its aegis including an offshore and a domestic fund for Indian real estate market, as well as a hedge fund for listed Indian entities. The company is already in talks with some of its existing investors for floating a new fund, which would invest in infrastructure projects in the country.