- WSB Real Estate Partners is an alternative investment platform jointly held by the ex-India Management team of Walton Street (Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla) and Blacksoil Group.
- WSBREDF II plans to utilize the corpus to invest in residential real estate projects catering to the mid-income segment across India’s metropolitan cities
One of India’s leading real estate Debt fund houses, announced that they have achieved the target Fund size of INR 500 cr and stepped into the green shoe option for their latest Fund, WSBREDF II (‘the Fund’).
The Fund will focus on using structured debt to invest in residential real estate projects serving the mid-income/affordable housing segment across select tier-I cities and will look to partner with developers with a good track of execution and delivery.
The fundraise saw active participation from notable stakeholders, including large family offices, corporates, offshore investors, and HNIs.
The group has also announced its rebranding from Walton Street India to WSB Real Estate Partners. This is part of a concerted effort on the firm’s part to further build on its reputation as a trusted Manager with an institutional approach to Real Estate Investing.
In an official statement, Kaushik Desai, Managing Partner of WSB Real Estate Partners said, “We would like to sincerely thank our investors, partners and stakeholders for reposing faith in us through repeat investments across multiple funds/ strategies since 2013, that have helped us grow this business over the last 9 years. WSBREDF II has successfully crossed its target of INR 500 crore and stepped into green-shoe within just a year of launch. With a healthy deal flow pipeline and promising underlying RE fundamentals, we are optimistic of fully deploying the capital in the next 2-3 quarters.”
Talking about the rebranding of the Group, Mohinder Pal Bansal, Co-Founder of Blacksoil Group said, “We are very happy to have partnered with WSB’s management team, who helped build Walton Street Capital’s India debt business. The team’s understanding of Indian real estate and hands-on solution-oriented approach distinguishes them from others which is demonstrated by successful track record. Having successfully achieved our target fund size, we rebrand into a position that better captures the essence of where we are today and where we want to be in the future”.”
About WSB Real Estate Partners
WSB an Alternate Investment platform, jointly held by ex-India Management team of Walton Street (Kaushik Desai, Vinit Prabhugaonkar, and Vimal Jangla) and the Blacksoil group, has been investing in the Indian Real Estate space since 2008-09. WSB’s presence in the market across multiple market cycles has allowed them to pioneer structured debt solutions and build multi-year relationships with developers in their chosen micro markets. Their focus on the quality of underwriting has enabled them to build an impressive track record. WSB and its affiliates have managed or committed more than INR 17,500 Mn (~USD 230 Mn) of debt capital in residential real estate. Spread over 5 metros and across about 40 transactions, the group has already secured 27 complete and 5 partial exits from this investment corpus. The management team has been together for over 13 years and has advised Walton Street to manage USD 180Mn+ of real estate equity assets in India, across multiple offshore funds.