Nuvama Asset Management and Cushman & Wakefield Management Pvt Ltd (NCW) have successfully raised ₹1,700 crore under their newly launched Prime Offices Fund (PRIME) to invest in premium office assets across India’s top cities. The joint venture (JV) aims to capitalise on the growing demand for high-quality commercial spaces, targeting Grade A+ office properties in Bengaluru, NCR, Pune, Mumbai, Chennai, and Hyderabad.

Announcing the fund’s first close, Anshu Kapoor, President & Head of Nuvama Asset Management, said, “We have achieved a first close within nine months of commencing our fundraising efforts. We intend to achieve the targeted ₹3,000 crore fund size in the next two quarters.” The fund will focus on acquiring newly developed and fully leased office spaces, ensuring a balanced portfolio that aligns with investor interests.

The launch of PRIME comes when India’s commercial real estate market is witnessing strong investor confidence, driven by increased demand for high-quality workspaces from multinational corporations and growing domestic businesses. Anshul Jain, Chief Executive, India, Southeast Asia & APAC Tenant Representation, Cushman & Wakefield, emphasised this shift, stating, “The first closure reflects the growing confidence in India’s commercial real estate market and the trust investors have placed in the JV.”

By leveraging Nuvama’s fund management expertise and Cushman & Wakefield’s deep-rooted commercial real estate knowledge, the JV is positioning itself as a key player in shaping India’s future office landscape. Jain further added, “This is just the beginning. We look forward to strategically deploying these funds to shape world-class office spaces that redefine the future of work in India while striving to deliver strong returns.”

The fund’s investment strategy aligns with the increasing demand for institutional-grade office spaces, particularly in technology and financial hubs. With a robust deal pipeline already in place, PRIME is set to play a pivotal role in fueling the next wave of commercial real estate growth in India. As the JV moves towards its ₹3,000 crore target, its investments are expected to bolster India’s position as a leading destination for premium office spaces.