Nuvama Asset Management and Cushman & Wakefield Management Private Limited (NCW) have announced the first close of their Prime Offices Fund (PRIME), raising ₹1,700 crore. The fund aims to provide investment opportunities in India’s commercial real estate sector, focusing on high-grade “Offices of the Future” in Bengaluru, Delhi-NCR, Pune, Mumbai, Chennai, and Hyderabad. It plans to invest in both new developments and completed, leased assets, with a robust deal pipeline already in place.
Anshu Kapoor, President and Head of Nuvama Asset Management, said the fund achieved its first close within nine months of fundraising efforts and aims to reach ₹3,000 crore in the next two quarters. He highlighted the resilience of India’s commercial real estate sector and its growing appeal to investors seeking high-quality alternative investment solutions.
Anshul Jain, Chief Executive of Cushman & Wakefield for India, Southeast Asia, and APAC Tenant Representation, said the fund’s success reflects investor confidence in India’s real estate market. He emphasized the joint venture’s ability to combine fund management expertise with real estate insights to cater to the evolving demands of investors.
Gaurav Puri, Chief Investment Officer of NCW, expressed gratitude for the strong investor response and reaffirmed the platform’s commitment to building a high-quality office portfolio while delivering long-term value.
The fund is positioned to shape modern workspaces in key markets while targeting robust returns for investors, signaling a major step forward for domestic players in a sector traditionally dominated by global firms.