Management of Godrej Fund achieves funding of $500 million

The first closing of the $500 million or Rs 3,700 crore office development platform, GBTC II, was achieved by Godrej Fund Management, the real estate private equity arm of the Godrej Group, in partnership with Netherlands-based APG Asset Management N.V., the key investor in the platform.

Godrej Fund Management will have the ability to develop grade A office assets under this platform that will be valued on completion above $1.5 billion or Rs 11,000 crore.

The total value of office assets, including those of its previous funds, will take the value of the portfolio to more than $3 billion or Rs 22,000 crore upon completion.

The business was founded in the year 1887 by Ardeshir Godrej. The business operates in sectors such as consumer products, developing markets, and fast-moving consumer goods. Its Asia-Pacific Regions Headquarters (APAC).

The Godrej Party, founded in 1897, has its origins in the Swadeshi movement in India. Their maker, lawyer-turned-serial entrepreneur Ardeshir Godrej, struggled with a few companies before hitting gold with the locks company you know today.

With revenues of USD 4.1 billion, Godrej enjoys the patronage of over 600 million Indians through their consumer products, real estate, appliances, agri and many other companies, one of India’s most trusted brands. As an integral part of India, you think of Godrej that you would be shocked to know that over 25 percent of their business is done overseas.

GBTC is an office investment strategy in the club-style that invests in the development of office buildings in prime locations across India’s leading office markets. Currently, the platform has a strong investment pipeline and aims to deploy the new capital raised within 12 months.

This is the third India-focused office venture sponsored by GFM and the fifth overall.