Funds -- Active Funds -- JV with Milestone
Fund I |
|
|
Corpus |
: |
US$ 117 mn |
Vintage |
: |
2008 |
Focus |
: |
Income-Yielding Assets |
Status |
: |
Exited |
|
|
|
|
|
Number of Investments |
: |
6 |
No. of Divestments |
: |
6 |
|
|
Fund II |
|
|
Corpus |
: |
US$ 112 mn |
Vintage |
: |
December 2009 |
Focus |
: |
Income-Yielding Assets |
Status |
: |
Exited |
|
|
|
|
|
Number of Investments |
: |
4 |
No. of Divestments |
: |
4 |
|
|
|
|
IIML and Milestone began their partnership in 2007 with the objective of investing in high-quality income generating commercial
assets spread across the Tier I cities of India through funds raised from the Indian retail investors. On one hand, while
Milestone sought to leverage IIML’s value as a globally recognized, seasoned real estate investor with extensive fund management
and fiduciary experience, on the other, IIML sought to leverage Milestone’s real estate operating capabilities. Together,
both IIML and Milestone aimed to take advantage of the maturing Indian real estate sector and institutionalize the highly
fragmented market for acquiring existing, income producing commercial properties
All the investments under IL&FS Milestone Funds have been divested and the proceeds distributed to the investors. Gross returns
generated from Fund I and Fund II at 8% and 11% respectively