OKAS launches $500m affordable home fund in India

OKAS, the real estate private equity arm of the DMI Group, is seeking to raise $500 million for its second fund.

The vehicle will invest in high-quality, affordable homes in India, as well as building and leasing grade A office space, according to reports.

New Investment Solutions (NIS) will serve as the lead investor in the fund. The asset management company led a previous fundraising round for the first fund in 2018. That initial fund has deployed $250 million across 20 real estate projects in the Indian cities of Gurgaon, Noida, Lucknow and Bengaluru.

“We are committed to deepening our engagement in both the residential and commercial developments with this second fund and grow the OKAS and PARDOS brands into symbols of reliability and quality for both households and companies,” said Shivashish Chatterjee, co-founder of DMI.