Legal and terms
Nature of this document
This document is private and confidential and is issued for private circulation to identified investors only. It does not constitute an offer, invitation or solicitation to the public to subscribe to units of the Fund. It is prepared for discussion purposes only. In the event of any inconsistency, the Private Placement Memorandum and Contribution Agreement prevail.
Returns and projections
Target returns are targets only, are not guaranteed and are subject to fund performance. Return figures are stated gross of fund-level fees, expenses and carried interest; investor-level outcomes will be lower and vary by class of units and timing of distributions. Forward-looking statements, projections and estimates are indicative and subject to change without notice.
Track record
Track record refers to projects delivered by the developer sponsor group and to prior vehicles and mandates of the sponsors and manager team, in each case prior to and independent of the Fund. Past performance is not indicative of future results.
Allocations, geography and policy
Investment stages, target allocations, geographic focus, hold periods and exit routes are indicative expectations, not commitments, and may vary within the limits set out in the Private Placement Memorandum. Delhi Master Plan 2047 is at proposal stage; the timing and scope of any redevelopment or FSI unlock are outside the Fund’s control.
Conflicts of interest
The sponsor group develops real estate, and the Fund may over time invest into projects promoted by the sponsor or its affiliates. Such investments are made only with prior investor approval as required under the AIF Regulations, on arm’s-length terms tested against independent valuation, with sponsor-affiliated members of the Investment Committee recusing themselves, and with exposure capped and consent thresholds set out in the Private Placement Memorandum.
Regulatory status
Registration with SEBI does not constitute approval or endorsement of the Fund’s objectives, strategy or performance, nor any assurance that the Fund’s investment objectives will be achieved.
Risk and liquidity
Investments in Alternative Investment Funds carry a high degree of risk, including possible loss of principal, and are illiquid. The risk summary in this document is not exhaustive; complete risk factors are set out in the Private Placement Memorandum.
What the Fund does
The Fund invests in securities and other instruments permitted under the SEBI (Alternative Investment Funds) Regulations, including shares, debentures and interests in limited liability partnerships. It does not itself undertake land acquisition, development, lending or sale. Instruments, investee entity form, security packages and exit routes are selected deal by deal within the mandate; routes described are indicative and not exhaustive.
Market data
Market size, sector and capital-flow data are third-party estimates from published industry and regulatory sources and are not forecasts of the Fund’s performance. Comparative asset-class ranges are indicative and illustrative only; manager dispersion within alternatives is wide.
Independent advice
Prospective investors should conduct their own independent evaluation and seek appropriate legal, tax and financial advice before making any investment decision.
