Alternative investment platform WSB Real Estate Partners is preparing to raise a new fund after successfully deploying its Rs.700-crore second fund. This careful strategy provides a smooth transition and gives the current fund's investments two months to finish.

Vimal Jangla, managing partner of WSB Real Estate Partners, said the firm, formerly Walton Street BlackSoil, will deploy two-thirds of its capital in southern India-led growth cities like Bengaluru, Hyderabad, and Chennai for the planned fund. He told ET the structured debt investment will be in mid-income residential real estate developments in chosen tier-I cities. 

The company wants to work with developers who have completed projects successfully. Our investments in southern markets have exceeded Rs.1,400 crore since 2013, according to Jangla. Throughout 20 transactions, we have successfully exited over Rs1,000 crore. Individual buyers dominate demand in the South, making the market steady and underwriting assets easy. 

The Walton Street BlackSoil Real Estate Debt Fund II (WSBREDF II) increased its target fund value to Rs.500 crore last year, entering the greenshoe option. Jangla stated that the second fund had an ideal size of Rs.500 crores and included a greenshoe of Rs.250 crores, without clarifying the fundraising details.