Promoted by Axis Bank, Axis Asset Management Company has entered into a strategic partnership with global real estate developer, owner and operator Tishman Speyer to invest and develop commercial real estate in key cities in India. Through this first-ever alliance between an Indian fund house and an international real estate giant, Axis Asset Management Company will raise up to Rs 15 billion, including a green shoe option, while Tishman Speyer will act as the exclusive development manager for the platform.
The fund, Axis Commercial Real Estate Fund, will be a Category II alternative investment fund in which both Axis and Tishman Speyer will jointly invest up to 10% of the fund size.