Red Fort launches its first domestic fund for Rs 1,000 cr

New Delhi: Private equity real estate firm Red Fort Capital, has launched its first domestic fund for Rs 1,000 crore, targeting land level deals. The by-invitation fund would focus on land and realty projects worth over Rs 5,000 crore over the next one year. 'The investment will be in under-valued land for residential, commercial, IT, retail and hospitality projects. The fund will focus on key cities across India, such as re-development projects in Mumbai, affordable housing and land in key urban centres, providing investors a diversified exposure to land appreciation,' a company release said.