Sundaram Alternates closes India's 1st ₹2,500cr-plus ESG real-estate credit fund
Sundaram Alternates just closed its SA Real Estate Credit Fund V with over ₹2,500 crore, far above its original ₹1,500 crore goal.
This is India's first real estate credit fund focused on ESG (that's environmental, social, and governance standards), and over 90% of the money is already set to go into deals.
Clearly, investors are excited about more responsible and sustainable ways to back real estate.
Secured lending to brownfield residential projects
Launched in October, the fund pulled in cash from insurance companies, family offices, corporate treasuries, and ultra-rich individuals.
With support from Sundaram Finance Group, it's lending mainly to brownfield (already started) residential projects using secure loans designed to protect investor money.
The quick fundraising shows that big investors in India are getting serious about sustainability, and want their money making a positive impact while staying safe.