Firm News

Mishcon de Reya advises Saffron Capital Advisors and Saffron India Real Estate Fund

Release Date:

01 February 2008

Mishcon de Reya recently advised Mauritian fund managers Saffron Capital Advisors ("Saffron") on the establishment of Saffron India Real Estate Fund 1 ("SIREF"), and on SIREF's first closing, with anchor investor, Standard Life Investments, committing USD 75 million. The overall fundraising for SIREF is capped at US$500 million.

Mishcon de Reya acted as principal lawyers, responsible for co-ordinating the international team of legal and other advisors in India, Mauritius, and the UK.

Head of the Firm’s Funds Group, Christopher Jones led the team supported by senior assistant Clive Thomas.

The London-based Indirect Investment team of Jones Lang LaSalle Corporate Finance have been mandated by Saffron to act on the SIREF fundraising.

About Saffron Capital and Saffron India Real Estate Fund

Saffron Capital Advisors is a fund manager focused on Indian real estate with US$320 million of funds under management. The business was established in 2005, but Saffron’s principals have been active in the Indian real estate market for the last 15 years - the team currently totals 31 individuals with in-house expertise for end-to-end management of investments.

SIREFI is targeting investor returns of 20%+ pa, through a diversified investment strategy across geographies and asset classes, focussing on investments in tier I, II and III cities throughout India. The investment strategy includes, accessing corporate land, distressed asset land banks, high net worth and established family land banks, acquisitions of selected portfolios plus investments at a project as well as enterprise level, and proactive management of the investment throughout the life cycle of the development.