Prime Litmus Investment Management launches real estate opportunities fund
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Prime Securities has launched the Prime Litmus Real Estate Opportunities Fund, a Category II AIF targeting Rs 750 crore with a Rs 250 crore green shoe option. The fund will focus on structured credit investments in under-construction real estate projects across key Indian metropolitan regions, aiming for 18-20% IRRs over six years.
Prime Securities, a listed Sebi-registered Merchant Banker, announced on Thursday the launch of the Prime Litmus Real Estate Opportunities Fund, a Category II Alternative Investment Fund (AIF) focused on structured credit investments in under construction real estate projects through its Group Company, Prime Litmus Investment Management.The fund has a target corpus of Rs 750 crore along with a green shoe option of Rs 250 crore. The Category II AIF will focus on structured credit investments in self-liquidating real estate projects across India’s key metropolitan regions including Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru, Chennai, Hyderabad and Pune.
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With a tenure of six years (extendable by one year), the Fund aims to deliver target IRRs (Internal Rate of Return) of 18–20% per annum, supported by conservative underwriting, rigorous due diligence, and strong asset management practices.
The fund will primarily invest in self-liquidating real estate projects with strong cash-flow visibility and robust security structures, partnering with established developers and targeting proven real estate markets with demonstrated depth and demand. The strategy aims to benefit from increasing demand in mid-tier and premium housing segments, alongside the growing institutionalization of the sector.
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The investment committee comprises industry veterans across real estate investing, investment banking and asset management. The leadership team includes Rahul Rai - Managing Partner, Prime Litmus; Akshay Gupta - Director, Prime Securities; and Apoorv Kumar - Managing Partner, Litmus.
“The launch of Prime Litmus Real Estate Opportunities Fund represents an important milestone in Prime Securities’ expansion into the Alternative Investment Fund management. India’s real estate sector is undergoing structural transformation led by consolidation, formalization and increasing institutional participation. The launch of our AIF business is Prime’s commitment to create and diversify investment platforms/solutions to address evolving investor needs. We believe the current market environment presents a compelling investment proposition for structured credit strategies, with its emphasis on capital preservation combined with disciplined underwriting, strong governance and downside protection can create attractive and predictable outcomes for investors,” said Akshay Gupta, Director of Prime Securities.
“As sales patterns get concentrated and buyers increasingly demand quality and on-time delivery, the need for intelligent capital solutions continues to grow. We intend to build a best-in-class Investment Management platform providing solution-oriented capital, delivering sustainable risk-adjusted returns, along with superior corporate governance and transparency. We are fortunate to have the best-in-class team to deliver Institutional-Grade Investment Management across asset classes and development cycles,” said Apoorv Kumar, Managing Partner at Litmus Global Services LLP.
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“As conventional funding avenues tighten for Real Estate Developers, the demand for institutional structured capital is accelerating. At Prime Litmus we aim to build a scalable, governance‑led alternatives platform to address India’s Real Estate growth opportunities starting with the credit business in under-construction projects and then expanding into other sectors also,” said Rahul Rai, Managing Partner, Prime Litmus Investment Management.
Prime Litmus platform will focus on institutional-grade governance and risk oversight, supported by established ecosystem partners including ICICI Bank Ltd as custodian and fund accountant, Price Waterhouse Chartered Accountants LLP as auditor, and MITCON Credentia Trusteeship Services Ltd as trustee.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Figures reflect the source report and its stated period. This article is for information and is not investment advice.
