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Sign in Sign up for a FREE subscriptionWalton Street / BlackSoil fund holds first close
Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF-II), a fund managed by Walton Street Capital India and BlackSoil, has completed a first close of INR 360 crore ($47.5 million), against its target of INR 500 crore ($66 million).
According to Mint, domestic high-net-worth individuals and family offices have backed the alternative investment fund, which is expected to close by December.
The fund will offer debt financing to middle-income residential projects in India’s top six cities of Bangalore, Hyderabad, Chennai, Mumbai, Pune and Delhi-NCR.
“With reduced availability of the capital for residential real estate development, the funds generated from WSBREDF-II will be deployed to provide financial assistance to developers to ensure consistent cash flow and timely completion of projects," stated Walton Street.