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Altico Capital invests Rs 120 crore in Century group's Bengaluru housing project
Altico Capital has invested Rs 120 crore in an affordable housing project being developed by Bengaluru-based realty firm Century group. Altico Capital is the non-banking finance company promoted by Clearwater Capital (now Fiera Capital), Abu Dhabi Investment Council and Varde Partners.
It has invested Rs 120 crore in the Century group project 'Century Greens' at North Bengaluru where the realty firm is doing plotted development. The plots are priced between Rs 25-50 lakh.
"We are delighted to partner again with a strong group like Century with whom we have a history of successful exits. The new investment is against an ongoing plotting project which fits into our philosophy of investing in affordable and mid-market projects of ticket sizes below INR 50 lakhs," said Sanjay Grewal, CEO of Altico Capital.
This is Altico Capital's second investment in the Century group. In 2015, it had co-invested Rs 765 crore with Piramal group in a portfolio of projects.