Poddar Keventer Capital Advisors Private Limited, the investment management platform backed by Saroj Poddar Group (erstwhile Adventz group) and Keventer Group, has launched its maiden Category II AIF, focused on secured real estate debt opportunities, making it the first AIF launch by a real estate developer from West Bengal. The fund targets a corpus of Rs. 400 crores, expandable to Rs. 600 crores through a Rs.200 crores greenshoe option.

The AIF marks the coming together of Saroj Poddar Group, a USD 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.

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% before expenses. The sponsors have committed 20% of the target corpus at Rs. 80 crores, 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.

The launch comes at a time when Indian real estate is witnessing a structural shift in financing landscape with institutional capital, private credit and alternative investment vehicles are increasingly playing an important role alongside traditional sources of funding. As developers seek more structured and flexible sources of capital, investors are placing greater emphasis on governance, transparency, execution capability and disciplined capital deployment.

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. Through this AIF, in partnership with Saroj Poddar Group, we aim to bring our real estate expertise and execution-led approach to identifying and supporting quality opportunities across these markets.”

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.”

The launch of the maiden fund marks the first step in the sponsors’ broader ambition to build a professionally managed institutional real estate investment platform, combining Saroj Poddar Group’s institutional governance with Keventer’s real estate development and execution capabilities.