Shivalik Investment Fund (SIF), a Category II Alternative Investment Fund (AIF), has successfully achieved the first close of its inaugural fund. The fund has secured 50% of its targeted corpus, marking a significant milestone for the investment firm. This is the first AIF of its kind in Gujarat, and it has attracted a strong interest from high-net-worth individuals (HNIs) and family offices. Much of this interest is due to the reputation of Shivalik Group, a well-known real estate developer based in Ahmedabad.
Fund Details
The Shivalik Investment Fund had set a targeted corpus of Rs 150 crore, with an option to raise an additional Rs 150 crore under the green shoe option. The fund will focus on investing in residential, commercial, and plotting projects located in high-growth areas of Ahmedabad. With a solid deal pipeline, SIF is currently in advanced talks about several potential investment opportunities.
Jigar Shah, a key member of the investment team at SIF, shared his excitement about the milestone: “This achievement reflects our vision of creating a trusted, privately pooled investment vehicle for our investors. We are committed to maximizing returns by leveraging our financial and development expertise.”
Chitrak Shah, Founder and Managing Director of Shivalik Group, expressed confidence in the fund’s future: “Our first closure demonstrates our commitment to enhancing our presence in Ahmedabad’s real estate market. We are excited to deliver value to our investors through carefully planned projects.”
Real Estate Market
As Ahmedabad’s real estate market continues to grow, SIF aims to capitalize on these promising trends. Piyush Kothari, Executive Director of SIF, pointed to key factors driving the market’s growth, such as infrastructure development, rising incomes, and increasing demand for premium residential and commercial properties.
“The real estate market in Ahmedabad is entering a transformative phase,” Kothari noted. “Through our professionally managed fund, we aim to give investors a chance to be part of Shivalik’s success story.”
With its first close successfully secured, Shivalik Investment Fund is well-positioned to take advantage of the real estate boom in Ahmedabad, offering its investors significant opportunities in a rapidly expanding market.
