|Fund Name||Asset class||Registration Number|
|Landmark Return Multiplier Fund||Real estate||IN/AIF2/13-14/0068|
|Landmark Opportunity Fund||Real estate – warehousing & residential||IN/AIF2/13-14/0068|
|Landmark Multiplier Fund||Real estate – warehousing||IN/AIF2/21-22/0928|
Landmark Capital is set up by experienced professionals with the intent to leverage their deep knowledge, understanding and a tested, long-standing relationship in the real estate segment to find attractive investment opportunities for its Investors.
The Leadership and Core Team members carry with them experience and the expertise in finding attractive real estate investment opportunities, structuring the investments, nurturing the same and making profitable exits. The Team has a good blend of experience to cover the end to end cycle of investments and carries with itself one of the most diverse backgrounds, with experience across various asset classes from warehousing, commercial properties both pre-leased as well as brown field to residential class covering both budget and mid-segment housing.
Ashish Joshi CEO, Landmark Capital – He has 20 + years of experience in real estate, logistics and telecom industry. He was Ex Managing Partner, Real Estate Investments of Milestone Capital Advisors. He was associated at Milestone Capital since its inception and was instrumental in building a real estate AUM of ` 3,000 crores across 7 real estate fund has significant and diversified experience across different asset classes of real estate which includes residential, commercial, rental yield (pre leased) and warehousing. He was involved in fund raising, sourcing and closing deals pan India and making successful exits at attractive IRRs. He is associated with Peninsula Land Limited as CFO and with Hapag Lloyd as Director, Business Development and Chartered Accountant and Cost Accountant by profession.
Bhavya Bagrecha, Director- Investment
Tulshiram Patil, Head- Legal & Land Acquisition
Prashant Deshmukh, Head- Land Acquisition & Liasoning
Manish Maloo, Risk Management
Shelly Patwari, Investment & Monitoring
Landmark Return Multiplier Fund philosophy is geared to provide optimum returns to the Investors and at the same time ensuring adequate possible measures to ensure protection of investment. Investment manager at Landmark Return Multiplier Fund would strive to ensure health of each investment through regular returns to the Investors and would ensure absolute transparency to Investors.
Landmark Return Multiplier Fund would primarily focus on residential segment. Landmark Return Multiplier Fund would follow a defensive investment strategy which would mean investment opportunities offering regular attractive return along with upside.It would also opportunistically invest in transactions with preferred return having upside sharing. Projects which are under construction and are expected to get completed in 2-3 years time frame. Invest in projects where major approvals are in place and projects which have short to medium term funding requirement. And they largely focus on top 4 cities which include Mumbai, Chennai, Bengaluru and Pune. Tier II and Tier III cities would largely be avoided unless the opportunity is compelling
1. Landmark Return Multiplier Fund
Year Of Launch: 2013
Corpus: Not Specified
Focus: Not Specified
Number Of Investments: 4
Structure: Warehousing, Residential and Student Housing
Investments Exited: All investments have been exited
Fund Status: Closed
Investment Strategy: Not Specified
Note: Currently there is no Investment Strategy and Focus specified for this fund on the website, but it is there in Landmark Capital dossier. There might be the chances of the information being available on the website before the closure of the fund. Hence, I’ve mentioned ‘Not Specified’.
2. Landmark Multiplier Fund
Year Of Launch: 2021
Corpus: $5 Billion, Including green shoe option of $2 Billion
Focus: Pune, Delhi, Mumbai, Ahmedabad, Bangalore, etc.
Number Of Investments: 5/8
Investments Exited: Not Specified
Fund Status: Open
· Fund Strategy is to partner at the execution and development stage enabling mitigating risks of land conversion, aggregation and approvals
· Value addition by the fund through its in-house Development expertise, Leasing and Tenant management expertise
· Enables participation in capital value creation by entering the deal at the right ‘stage’
· Ensure exit at the right stage through multiple exit strategies
|Asset Class||Investment Type||Location||Exit Extent||Investment Date||Exit Date||IRR|
|Commercial||Rental Yield||Mumbai||Full||Dec 2008||Aug 2010||25%|
|Residential||Mezzanine||CV Raman Nagar, Bengaluru||Full||May 2011||Mar 2013||25%|
|Residential||Mezzanine||Kalina, Mumbai||Partial||Feb 2010||Aug 2010||23%|
|Residential||Equity||Chennai||Partial||Mar 2008||Aug 2010||23%|
|Residential||Mezzanine||Shivaji Park, Mumbai||Full||Jun 2010||Jun 2012||23%|
|Residential||Mezzanine||Kalina, Mumbai||Full||Oct 2010||Oct 2012||22%|
|Residential||Mezzanine||Sodepur, Kolkata||Partial||Aug 2009||Nov 2012||22%|
|Warehouse||Equity||Ahmedabad||Full||Feb 2008||Aug 2010||18%|
|Jain Heights Bengaluru – Philosophy at the time of Investment|
|Project Status||Project approvals were expected shortly. Pre launch of Project had taken place|
|Project was located in an upcoming area of Bengaluru which had a potential for capital appreciation|
|Developer||Mid Size Developer in Bengaluru known for good quality projects|
|Investment amount was collateralized with charge on Development rights, Pledge of Shares, Personal Guarantee of promoters and Corporate Guarantee|
|Exit Status||Full Exit|
|IRR||23% per annum|
|Richa Shivaji Park – Philosophy at the time of Investment|
|Project was under construction with 3 floors constructed and all approvals were in place. Partial Sales had taken place|
|Location||Project was at premium location – Shivaji Park, Mumbai which has good demand for residential units|
|Developer||Developer had excellent track record in execution ofProjects|
|Investment amount was collateralized with First Registered charge on Project, Pledge of Shares, Personal Guarantee of promoters and Corporate Guarantee|
- What is the risk return characteristics usually used?
- Investment depends on growth or valuation ?
Prepared by Dishant Savla, June 2021, Reviewed By Punit Bansal
What was the corpus of the Landmark Return Multiplier Fund?
2. What were targeted returns of the Landmark Return Multiplier Fund? Were those targets achieved?
3. As the Targeted Gross IRRs mentioned for Landmark Multiplier Fund was16% to 18% per annum, were they achieved?
4. How do you inform or provide data to investors about the performance as financials might not be publicly available?
5. What is the Lock-in period of funds?
6. What is the Investment Process?
7. What factors do you consider while investing in plots?
8. Who are you partnered with?
Prepared by- Anchal Kumar, Sept, 2021