Shivalik Investment Fund (SIF), a Category II Alternative Investment Fund (AIF), recently announced the first close of its maiden fund, securing 50% of the targeted corpus.
As the first AIF of its kind in GujaratThe fund has attracted strong interest from high net worth individuals and family offices, driven by confidence in Shivalik Group, a pioneering real estate developer in Ahmedabad.
“Our successful first close of the fund demonstrates our commitment to leverage our financial and development expertise to enhance our presence in Ahmedabad and maximize returns for our investors,” said Chitrak Shah, Founder and CEO of Shivalik Group.
Target corpus of Rs 150 crore
According to the company’s statement, the Category II AIF had a target corpus of Rs 150 crore, with an option to raise an additional Rs 150 crore under the green shoe option.
Investing in high growth areas
The firm said the fund is primarily focused on investing in residential, commercial and development projects in high-growth areas of Ahmedabad.
SIF has a strong pipeline of business opportunities and is currently in advanced discussions on identified deals.
“This milestone is a testament to our vision of creating a trusted private investment vehicle for our investors,” said Jigar Shah, a key member of the investment team at Shivalik Investment Fund.
CEO highlights growth in real estate market
“Ahmedabad’s real estate market is entering a transformational phase, driven by infrastructure development, rising incomes and increased demand for premium residential and commercial properties. Shivalik Investment Fund is well positioned to capitalise on these trends through our professionally managed fund, offering investors an opportunity to be a part of Shivalik’s growth story,” said Piyush Kothari, CEO, Shivalik Investment Fund Pvt. Ltd.
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