Saroj Poddar Group and Keventer Group-backed investment management platform, Poddar Keventer Capital Advisors, has launched its maiden category II Alternative Investment Fund (AIF), focused on secured real estate debt opportunities, targeting a corpus of ₹400 crore.
The category II Alternative Investment Fund, the first AIF launched by a real estate developer from West Bengal, is expandable to ₹600 crore through a ₹200 crore greenshoe option.
“The AIF marks the coming together of Saroj Poddar Group, a $3 billion diversified business conglomerate, and Keventer Group, one of Eastern India’s leading business groups, with established businesses across Food & FMCG and Real Estate. The platform combines Saroj Poddar Group’s institutional expertise with Keventer’s deep real estate development and execution capabilities,” according to a statement issued on Friday.
The Poddar Keventer Real Estate Fund – Scheme I will pursue a secured real estate debt strategy across Delhi-NCR and West Bengal, with a target gross IRR of 18-22 per cent before expenses. The sponsors have committed 20 per cent of the target corpus at ₹80 crore, demonstrating strong alignment with investors.
The Fund will provide structured financing to select real estate projects including ultra-luxury, premium and mid-market developments. Its investment framework combines secured debt structures with security cover, escrow and covenant safeguards, milestone-linked drawdowns and ongoing monitoring.
Commenting on this, Mayank Jalan, Chairman & Managing Director, Keventer Group, said, “We see significant opportunities across both Delhi-NCR and West Bengal, supported by evolving consumer aspirations, infrastructure-led development and sustained demand for quality real estate. While the opportunity is compelling, our experience has shown that converting it into sustainable value requires disciplined capital deployment and strong execution on the ground.”
Akshay Poddar, Promoter, Saroj Poddar Group, said “The rapid growth of India’s AIF ecosystem reflects the increasing role of alternative capital in supporting the country’s growth opportunities, with real estate emerging as one of its key investment destinations. At the same time, the evolution of the regulatory framework, including SEBI’s recent measures around scheme launches, governance and fund lifecycle management, is helping strengthen the institutional architecture of the asset class. In partnership with Keventer Group, we aim to build a platform that combines disciplined capital allocation, robust governance and long-term alignment with investors.”
Gaurav Agarwala, Head of Operations, Poddar Keventer, said, “The strength of this platform lies in combining deep real estate understanding with a disciplined investment and execution framework. We will focus on opportunities where the underlying project fundamentals, promoter capability and cash flows provide the right basis for structured financing. A rigorous due diligence process, appropriate security structures and ongoing monitoring will remain central to our approach as we deploy capital across Delhi-NCR and West Bengal.”
Published on October 2, 2026
