Ahmedabad, Gujarat – 17 September 2024: Shivalik Investment Fund (SIF), a Category IIAlternative Investment Fund (AIF), on Monday, 16thSeptember 2024, successfully announcedits first close of its inaugural fund, securing 50% of the targeted corpus. As the first AIF of its kind in Gujarat, the fund has attracted strong interest from high-net-worth individuals and family offices, driven by the trust in Shivalik Group, a pioneering developer, the rapid growth of Ahmedabad’s real estate market.
The Category II AIF had a targeted corpus of INR 150 crores, with an option to raise an additional INR 150 crores under the green shoe option. The fund is primarily focused on investing in residential, commercial, and plotting projects in Ahmedabad’s high-growth areas. SIF has a strongdeal pipeline of opportunities and is currently in advanced discussions on identified deals.
“This milestone is a testament to our vision of creating a trusted privately pooled investment vehicle for our investors,” said Jigar Shah, Key Investment Team member of Shivalik Investment Fund.
Shivalik Group has a proven track record of delivering over 75 landmark projects and over 15 million square feet of real estate development. The group is a leading name in Gujarat’s real estate market, known for its commitment to quality and innovation. Shivalik has developed more than 12 micro markets across Ahmedabad with its iconic projects.
“Our successful first closure of fund demonstrates our commitment to leveraging our financial and development expertise to enhance our presence in Ahmedabad and maximize returns for our investors,” said Chitrak Shah, Founder & Managing Director, Shivalik Group.
Ahmedabad’s real estate market is entering a transformative phase, driven by infrastructure development, rising incomes, and increased demand for premium residential and commercial properties. “Shivalik Investment Fund is well-positioned to leverage these trends through our professionally managed fund, offering investors an opportunity to be part of Shivalik’s growth story,” said Piyush Kothari, Executive Director, Shivalik Investment Fund Pvt. Ltd.
