Kolkata: Saroj Poddar Group and Keventer Group have joined hands to launch a Rs 400 crore Category II real estate debt alternative investment fund (AIF) — the first such fund from eastern India.Poddar Keventer Capital Advisors, the investment management platform backed by both groups, targets a corpus of Rs 400 crore, expandable to Rs 600 crore through a Rs 200 crore greenshoe option.Sponsors have committed 20% of the target corpus at Rs 80 crore. Sources said investors have committed another Rs 115 crore -120 crore — 30-35% of the initial corpus.The Poddar Keventer Real Estate Fund — Scheme I will pursue a secured real estate debt strategy across Delhi-NCR and Bengal, targeting a gross IRR of 18-22% before expenses. The fund will provide structured financing to ultra-luxury, premium, and mid-market developments, combining secured debt structures with escrow and covenant safeguards, milestone-linked drawdowns and ongoing monitoring.Saroj Poddar Group is a $3 billion diversified conglomerate. Keventer Group has established businesses across food, FMCG and real estate in eastern India. The platform combines Saroj Poddar Group’s institutional expertise with Keventer’s real estate development capabilities.Keventer Group chairperson and managing director Mayank Jalan said: “We see significant opportunities across both Delhi-NCR and West Bengal, supported by evolving consumer aspirations, infrastructure-led development, and sustained demand for quality real estate.”Saroj Poddar Group promoter Akshay Poddar said: “The rapid growth of India’s AIF ecosystem reflects the increasing role of alternative capital in supporting the country’s growth opportunities, with real estate emerging as one of its key investment destinations.”
