Welspun One raises Rs 2,275 cr for second fund to build warehousing assets
Welspun One has raised Rs 2,275 crore from investors for its second fund and would use the capital to develop warehousing properties.
Welspun One, an integrated fund and development management platform, on Monday announced the successful closure of its second fund totalling Rs 2,275 crores, inclusive of co-investment commitments.
This marks the largest domestic fundraise in this space, the company claimed.
The capital was sourced from a diverse pool of about 800 Limited Partners (LPs) or investors, including high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions.
Welspun One's second fund has already committed nearly 40 per cent of its investible capital across four investments. It expects to commit the remaining capital over the next 3-4 quarters.
This will add 8 million square feet to Welspun One's existing portfolio of 10 million square feet, taking their aggregate portfolio to around 18 million square feet, entailing a total