Bajaj Alternate Investment Management Ltd (Bajaj Alts), the alternative investment arm of Bajaj Finserv Ltd, has raised about ₹950 crore in the first close of its maiden real estate fund, Bajaj Alts Real Estate – Growth Fund I, which targets ₹2,000 crore including a green shoe option, the company said in a statement.
The fund secured commitments from family offices, institutional investors, and high-net-worth individuals. Bajaj Alts plans to invest in commercial office development through equity joint ventures with established developers, focusing on Grade A office assets in key Indian markets. Lakshmi Iyer, group president – investments and managing director and CEO of Bajaj Alts, said the launch marks an important milestone and lays the foundation for a diversified alternatives platform.
Bajaj Alts was incorporated in 2025 as a wholly owned subsidiary of Bajaj Finserv, with investment offerings spanning real estate, private equity, and listed equities. The fund’s strategy emphasizes participation in development and value creation of office projects rather than debt financing or acquiring completed properties. This approach aligns with growing investor interest in commercial real estate development amid India's expanding office space demand.
The fund has a pipeline of investment opportunities and plans to deploy capital over the coming months, according to the company. Bajaj Alts aims to reach its ₹2,000 crore target including the green shoe option as it builds its alternative investment platform.