India: SMC Global, IM+ Capitals launches $75m realty fund

Photo: Reuters

Financial services firm SMC Global Securities Ltd and IM+ Capitals Ltd, part of REPL, have launched their maiden $75 million fund to tap opportunities in India’s real estate market, according to a statement.

The fund, christened SMC IM+ Realty Fund, will have a green shoe option of up to $75 million. It expects commitments from domestic and international individual investors, institutional investors, banks and HNIs.

“After a thorough market research on demand for homes, we sensed the need for affordable mid-segment housing is at a peak. Hence, to cater to this segment, we launched SMC IM+ Realty fund, which will invest in affordable homes,” said Abhimanyu Londhe, CEO & head of Investments, SMC & IM Capitals Investment Manager LLP.

The fund will also concentrate on investing against under construction residential and commercial units at deep discounts and generate a fixed interest coupon, it said in the statement.

SMC Global and IM+ Capitals are the principal sponsors of the fund. The fund will be forming an investment committee that will consist of investors.

SMC IM+ Realty Fund is registered with markets regulator SEBI and is open for domestic and international individual investors, banks, HNIs and institutional investors. It will be focusing on affordable mid-segment housing sector across key Indian cities primarily in Mumbai, Pune and Bangalore in Phase I followed by other cities.

SMC Global, a diversified financial services company, has over $500 million of assets under management and IM+ Capitals Ltd is an engineering consulting company.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.