The company said the increase in the fund size was driven by investor demand and deployment opportunities in India’s institutional commercial office market.
According to NCW, around 45% of the fund’s capital has already been committed to investments.
The fund focuses on acquiring institutional-grade commercial office assets across key office markets in India. NCW said the portfolio currently spans around 4 million square feet of office space across multiple cities and houses more than 70 occupiers.
More than half of the tenants are Global Capability Centres (GCCs), while over 20% are front-office operations, the company said.
The PRIME Offices Fund was launched to provide domestic investors access to institutional-quality office real estate assets. NCW said the expanded corpus has now been fully subscribed.
The company said it will continue deploying capital in prime office assets across its target markets, supported by demand from GCCs and occupiers seeking high-quality workspaces.
NCW is a 50:50 joint venture between Nuvama Asset Management, the alternatives investment arm of Nuvama Wealth Management, and real estate services firm Cushman & Wakefield.
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