The Prime Offices Fund, a joint venture between Nuvama and Cushman & Wakefield, has closed its funding round at ₹4,000 crore, surpassing its original ₹3,000 crore goal. The fund has deployed nearly half its capital to purchase commercial properties in Delhi, Pune, and Chennai, signaling continued institutional interest in premium Indian office spaces.
The Prime Offices Fund, an investment vehicle managed by the joint venture between Nuvama Asset Management and global real estate firm Cushman & Wakefield, has completed its fundraising at ₹4,000 crore. The total amount collected is significantly higher than the initial target of ₹3,000 crore, a reflection of strong interest from investors seeking exposure to India’s commercial real estate sector.
Deployment and Portfolio Strategy
As part of its investment strategy, the fund has already utilized 45% of the total raised capital. This money has been used to acquire three premium office properties located in Delhi, Pune, and Chennai. The fund's overall portfolio currently covers approximately 4 million square feet and hosts more than 70 corporate tenants. According to the company, a significant portion of these tenants includes Global Capability Centres, which are increasingly driving demand for high-quality office space in India.
Focus on Grade A+ Office Assets
The fund, which secured regulatory approval from the Securities and Exchange Board of India (SEBI) in 2024 and achieved its first close in 2025, is specifically targeting Grade A+ office properties. These assets are being acquired in major Indian cities, including Bengaluru, the National Capital Region, Pune, Mumbai, Chennai, and Hyderabad. The goal is to provide investors with access to institutional-grade commercial buildings that cater to large corporate occupiers and multinational firms.
Market Context for Office Real Estate
The expansion of this fund coincides with a period where Global Capability Centres and front-office operations are expanding their footprint across India’s primary urban markets. This trend has helped sustain demand for premium workplaces, even as office vacancy levels in some micro-markets remain a factor for investors to track. For those monitoring this space, the next key update will be the fund's pace of remaining capital deployment and the addition of new assets to its portfolio, as the management team focuses on long-term value creation through disciplined property acquisitions.