Etonhurst Capital to raise ₹500 crore real estate fund for Mumbai redevelopment projects
Subscribe to enjoy similar stories. BENGALURU : Etonhurst Capital Partners, an investment firm, is set to raise its first real estate fund, targeting residential redevelopment projects in Mumbai, according to a senior executive. The fund, Etonhurst Redevelopment Fund 1, is registered as a Category-II alternative investment fund (AIF) with the Securities and Exchange Board of India and aims to raise a ₹500 crore corpus, with an additional ₹250 crore green-shoe option.
Read this | ASK Property Fund, India Sotheby’s to launch first luxury real estate fund Etonhurst was founded by Bamasish Paul, former managing director at Brookfield Asset Management and AIG Global Real Estate India, and Tushar Udayan Bose, former partner at CreditCapital Finance Partners. For the redevelopment fund, the firm has partnered with The Guardians Real Estate Advisory, which also serves as a lead sponsor. Etonhurst plans to source capital from high-net-worth individuals (HNIs) and family offices.
Mumbai’s real estate market, constrained by limited land availability, has seen increasing momentum in redevelopment projects, including aging buildings, housing societies, and slum pockets. The Etonhurst fund aims to capitalize on this trend by investing in society redevelopment projects at the early stages, where demand for capital is highest. “We see a lot of opportunities in the redevelopment space in Mumbai, yet there is a funding gap in the market.
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