Bajaj Alts, the alternative investment arm of Bajaj Finserv, has raised around Rs 950 crore in the initial close of its maiden real estate fund. The fund will invest in joint ventures with developers to develop Grade A commercial office assets, the company announced on October 12.
The Bajaj Alts Real Estate–Growth Fund I target a corpus of Rs 2,000 crore, including a green-shoe option. It has already secured commitments from family offices, institutional investors, and high-net-worth individuals.
With this fund, Bajaj Alts aims to expand into equity-led commercial real estate development. According to the company, domestic investment strategies have historically shown limited participation in this segment compared with debt financing for residential developers and the acquisition of completed properties.
“Our strategy is focused on partnering with established developers to co-develop high-quality commercial office assets in India’s key markets,” said Sanchit Bhatia, head of the real estate fund at Bajaj Alts. He added that the strategy would enable investors to participate in value creation from projects catering to corporates and global capability centres (GCCs).
Meanwhile, the fund has identified a pipeline of investment opportunities and plans to deploy capital across select cities over the coming months. Growing demand from multinational companies establishing or expanding their GCCs has also strengthened investor interest in institutional-grade commercial office assets across major business districts.
Lakshmi Iyer, group president for investments and managing director and chief executive officer of Bajaj Alts, said the fund’s first close would establish the foundation for a broader alternatives investment platform.
Bajaj Alts, a wholly owned subsidiary of Bajaj Finserv, was incorporated in 2025. Its investment offerings span real estate, private equity, and listed equities. Furthermore, the company plans to explore strategies such as long-short and quantitative investing.
The Rs 2,000-crore fundraising target will determine the scale of the fund’s investment programme as Bajaj Alts transitions from fundraising to capital deployment. However, the company has not disclosed the cities, developer partners, or individual projects it is currently evaluating.
