AYF III is the third scheme under the firm’s Category II alternative investment fund platform registered with the Securities and Exchange Board of India. The fund will focus on investing in pre-leased Grade A and A+ office and warehousing assets, aiming to generate income from rent-yielding commercial properties while avoiding greenfield development risks.
According to the company, its earlier funds have seen partial and full deployment across office and warehouse assets in cities such as Mumbai and Bengaluru. The first scheme invested about ₹120 crore across four office assets, while the second scheme has raised ₹135.9 crore and deployed a portion across two assets.
For AYF III, the firm is evaluating an investment pipeline of around ₹2,520 crore across Bengaluru, the National Capital Region (NCR) and Pune. The fund is targeting an internal rate of return (IRR) of 16–18% over a holding period of four to five years, supported by the use of leverage.
The launch comes amid continued activity in India’s commercial real estate segment, particularly in office and warehousing assets. Industry trends such as expansion of global capability centres, outsourcing demand, and return-to-office policies are expected to support leasing activity in the office market.
Alt Capital’s leadership team has prior experience in real estate investments, including roles at global investment firm Blackstone Group.
AYF III is aimed at institutional investors, high net-worth individuals, family offices, as well as select domestic and non-resident Indian investors.
First Published: Apr 16, 2026 3:04 PM IST