AYF III is designed to capitalize on India’s burgeoning commercial sector by investing exclusively in stable, high-quality, pre-leased Grade A and A+ office and warehousing assets. By focusing on these two high-growth segments, the fund explicitly avoids risks associated with greenfield development. Alt Capital is targeting an internal rate of return (IRR) of 16–18% over a 4–5 year hold period, utilizing prudent leverage to enhance overall portfolio returns. The investment team is currently evaluating a robust pipeline of approximately Rs. 2,520 crore across the key markets of Bengaluru, NCR, and Pune. This strategic focus aligns with the sustained growth of the Indian office market, which is driven by global outsourcing and the rapid expansion of Global Capability Centres (GCCs). As multinationals scale operations due to cost advantages and domestic tech firms accelerate office expansion, an easing interest rate cycle is expected to support cap rate compression and superior exit outcomes.
The leadership at Alt Capital brings deep institutional expertise, featuring a team that played a pivotal role in building office portfolios at the global real estate major Blackstone Group, collectively overseeing more than $3 billion in investments. CEO and Co-founder Kunal Moktan, an IIM Ahmedabad alumnus with over 15 years of experience including seven years at Blackstone, expressed excitement over the launch, noting that AYF III ensures diversification across 4-5 assets and offers the potential for sharper exit yields through portfolio exits. Hashim Khan, Co-founder, adds 15 years of technology and operations experience, having held leadership roles in a large Middle Eastern real estate conglomerate. Since 2016, the founders have collectively invested over Rs. 2,378 crore in real estate and returned approximately Rs. 675 crore to investors. Alt Capital operates as a wholly owned subsidiary of Alt, a Series B-funded platform backed by WestBridge Capital, Lightspeed, Beenext, and Pravega Ventures. Alt recently pioneered fractional real estate in India through Property Share, the first platform to receive a Small and Medium REIT license from SEBI.
FundsIndia Private Wealth, one of India’s pioneering digital-first wealth management platforms founded in 2008 and backed by WestBridge Capital, is spearheading the fundraising effort. CEO Srinivas Mendu highlighted that their conviction stems from Alt Capital’s institutional pedigree and alignment with high-quality platforms. He emphasized that the focus on premium, pre-leased Grade A+ assets with no developer risk provides stability, predictable cash flows, and attractive risk-adjusted returns for their clients. FundsIndia operates through three integrated verticals—Digital (Retail), B2B (Partners), and Private Wealth—serving over 300,000 users and managing more than 0 million in assets. This partnership between Alt Capital and FundsIndia represents a significant evolution in the democratization of institutional-quality alternative assets, offering institutional investors, HNIs, family offices, and NRI investors a compelling vehicle for capital preservation and steady income in India’s premier offshoring hubs.
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