Arnya Real Estates Fund Advisors has partnered with realty firm Casagrand to set up a new Rs 750-crore fund to be invested in projects across three southern cities — Bengaluru, Hyderabad and Chennai.

According to a statement on Monday, Arnya RealEstates Fund Advisors Pvt Ltd has launched Arnya Real Estate Fund III – Preferred Capital, a Category II Alternative Investment Fund (AIF) with a target corpus of Rs 750 crore.

The fund has been launched in partnership with Casagrand Premier Builder Ltd.

Arnya, which was founded in 2023, is now launching its third fund.

“This Fund with Casagrand will focus on real estate opportunities across Chennai, Bengaluru and Hyderabad, with investments ranging between Rs 75 crore and Rs 200 crore across approximately 8-10 projects,” the statement said.

Casagrand has a portfolio of 88 million sq ft across 180 projects.