IDFC Alternatives’ third real estate fund IDFC SCORE Fund announces final

Mumbai, Monday, October 3, 2016: The real estate arm of IDFC Alternatives Limited, one of the largest multi-asset class fund managers with an AUM of approximately Rs.17,000 crores, announces that it has completed fund raising for its third real estate fund–the IDFC SCORE Fund – and announced the final close of the fund at Rs.760 crores. A significant portion of the capital has been raised from its existing investor base.

IDFC SCORE Fund is a structured credit fund focused on the residential sector that aims to provide fully secured but flexible debt to real estate developers. The fund will predominantly invest in approved residential projects in the top 7 cities across the country (MMR, Bangalore, Chennai, NCR, Hyderabad, Pune & Kolkata).

Mr. M.K. Sinha, Managing Partner & CEO, IDFC Alternatives said, “This is another milestone for our real estate investments business that has been expanding its footprint steadily. We have been singularly focused on steady deployment and timely exits in all our current funds and plan to execute on the new fund in the same manner.”

Mr. Ritesh Vohra, Partner – Real Estate, IDFC Alternatives said, “Real estate markets continue to be slow and the need for capital remains high. Through the IDFC SCORE Fund, we intend to address the need for flexible and structured debt within real estate capital markets. We hope to create a high quality portfolio and a superior investing experience for our investors.”

Creating a track record of consistent performance over the years, the IDFC Proprietary Office Fund (Rs.700 crores) has been fully exited generating a 22% IRR. The IDFC Real Estate Yield Fund has committed its entire corpus of Rs.750 crores and returned over Rs.350 crores to its investors within 30 months of fund raising

About IDFC Alternatives Limited

 IDFC Alternatives Ltd (“IDFC Alternatives”) is a 100% subsidiary of IDFC and is an advisor and investment manager of IDFC sponsored funds across private equity, infrastructure and real estate. IDFC Alternatives is one of India’s largest multi-asset class fund managers with assets under management of approximatelyRs.17,000 crores. IDFC Alternatives is active across three key asset classes: Private Equity, Infrastructure and Real Estate and has over 60 professionals based out of Mumbai, Delhi and Singapore.

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