Integrow Special Situation Fund

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About Company

Integrow AMC is an innovative Asset Management Company that leverages technology to transform the landscape of real estate investment. Founded by Ramashrya Yadav, Harvard Business School Graduate, Former CEO at Edelweiss Finance. Integrow AMC is backed by India’s biggest proptech company, Aurum Ecosystem. Integrow aims to deliver superior returns through sustainable investment strategies such as Alpha, Simplicity & Confidence. With a cumulative professional experience of over 100 Years, Integrow AMC focuses on investor’s financial growth & diversification.

Fund Snapshot

Fund integrow Real Estate Special Situation Fund
Fund Target Size INR 500 cr+ INR 500 cr (Green Shoe Option)
Investment Manager integrow Asset Management Private Limited
Sponsor INR 5 Cr
First Close July 2022
Third Close 115.50 Crs: Feb 2024
Target IRS -22% -24
Hurde Rate 14% (Pre-tax) for all the units
Drowdown Schedule 50% Upfront . Subsequent Drawdown as per deal approval
Term of the Fund Earlier of 5 years from final close . Extendable upto 2 years
Corried interest Catch-up till 20% (Profit share of 80:20 beyond hurdle)
Commitment Amount INR Cr Management Fee Set-Up Fee Operating Expenses
>= 1<5 Cr Upto 2.50% p.a. Upto 2% 0.5% p.a.
>=5 <25 Cr Upto 2% p.a. Upto 1% 0.5% p.a.

Maximising Risk Adjusted Returns

Integrow ensures returns in private markets through operational excellence & maintaining strict control over processes, effectively navigating through a complex and uncertain landscape.

Integrow’s Investment Strategy

Integrow AMC follows ISME strategy- Identify, Secure, Monitor & Exit.

Identify

  • Integrow identifies projects which are high in demand & are established
  • Forecasting through & deal pricing through AI Driven app Arjava
  • Proper due diligence through leading advisors & consultants
  • Acting on recommendations from Investment committee

Secure

  • Mortgage over entire project
  • 100 % control over project cashflows & bank accounts
  • Step in rights
  • Punitive clauses for non-performance
  • Share pledge of entity
  • Promoter and Corporate guarantee of shareholders

Monitor and Exit

  • Disbursement based on performance and milestones
  • Sales, receivable tracking & pricing control through Arjava
  • Expense and documentation management through Arjava
  • Performance monitoring and compliance through Arjava
  • Enhance value of project
  • Priority in cashflow waterfall and exit distribution

Integrow Deal Evaluation Process

1. Approvals Package– The project to be RERA registered with approvals to commence plinth construction
2. Sales, Velocity & Pricing– Assessing the micro market sales velocity & pricing based on historical transactions & estimating the sales feasibility during the project life
3. Design Validation– Assessing the efficiency, design feasibility for the micro-market & ensuring the sales & regulatory designs are in sync
4. Developer & Ecosystem Governance– Compliance with local laws & record of all regulatory filings. Clear contractual obligation with land owners or buyers, defined milestones with service providers

Integrow Investment Checklist

Integrow enables direct investment in high-quality assets by conducting comprehensive due diligence, implementing stringent conditions, and employing real-time asset management for efficient monitoring and timely adjustments.

1) Return expectations: Mix of Coupon plus upside on Sales
2) Escrow Control: Both inflows & outflows monitored
3) Security: Complete project assets & shareholding of the developer SPV
4) Step in Rights
: Intervention rights in a project to resolve business plan deviations

Asset Management through Arjava

Arjava has revolutionised real estate with precise monitoring, risk assessment & safe transactions. The advantage of Arjava are:

  • Arjava gives an access to detailed insights on their dashboard
  • Arjava helps to evaluate project & monitor the capabilities for better efficiency
  • Arjava uses the blockchain technology for Trust & Transparency

Integrow Real Estate Special Situation Fund

Integrow is focused on debt & quasi equity investments in regions like Mumbai & MMR.

Indicative IRR

Gross IRR 22%-24%
-Fixed Coupon Payments- 10% – 14% per annum paid quarterly
-Redemption premium of instrument – 2% – 4%

Balanced Portfolio Choices

Geography
– Healthy mix of projects across MMR & PMR
– Exposure to only established micro market

Counterparty
– Min 5 projects or 2.5 Lac sft of completed development
– Min 10 % of project cost
– Healthy track record of borrowing history & repayment

Project
– Development Potential>10,000 sqm
– Approved FSI with premium paid > 50 %
– RERA Completion in next 36-40 Months

Portfolio Positioning

Diversification Fix
– Geography <25 % in a single micro market
– Counterparty <25 % in a single developer group
– Project <15 % in a single project

About Fund Managers

Ramashrya Yadav (FOUNDER AND CEO) 


The visionary behind Intergrow Asset Management

Mr. Ram Yadav, a leading figure in India’s real estate industry, is a Harvard Business School alumnus with 20+
years of experience in Construction, Real Estate, Banking & Investment.
As the former CEO at Edelweiss – Real Estate, Mr. Yadav managed a stellar real estate portfolio of over 5,000
Crores. His exceptional investment & organizational skills were evident through the successful realizations of
marquee transactions.
Mr. Yadav also made history by spearheading India’s first Real Estate IPO for Orbit Corportation Ltd., attracting
major domestic & global institutional investors. He also serves as a Board Member for India’s first NSE listed
Proptech Company, Aurum Proptech Ltd., solidifying his significant role in the real estate and Proptech sectors.

FAQ

Integrow approach of investing focuses on cashflow link investments, an active investor to execute, focused on waterfall with priority to Integrow, specialised ecosystem for real estate delivery, financing for project closure
The USP of Integrow Special Situation fund is predictable income, transparent reporting, security & protection, stable & non correlated, transferable & diversification
The benefits of investing with Integrow Special Situation Fund; - Diversified Portfolio with timely exits - Project Control - Upside Revenue Sharing - PropTech Management - Comprehensive Asset Security - SEBI Regulated AIF Structure - Distinctive Investment Team - Income Tax Pass Through
Integrow follows the investment strategy by ISME; Identify- Integrow identifies the project in established micromarkets with healthy demand, using Arjava for forecasting & deal pricing. Due Diligence are done by leading consultants & advisors before investing. Secure- To provide the security Integrow provides mortgage over entire project & gives a 100 % control over project cashflows, step in rights, punitive clauses for non-performance, share pledge of entity & promoter & corporate guarantee of shareholders Monitor & Exit- Inetgrow offers disbursement based on performance and milestones sales, using Arjava sales, receivable tracking & pricing control, Expense and documentation management through Arjava, Performance monitoring and compliance through Arjava, Enhance value of project, Priority in cashflow waterfall and exit distribution

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Disclaimer: Investing Involves Risk. This document is for information purposes only and should not be viewed as a legal offering document or solicitation. Offers to invest in this fund are made only by the Discretionary Portfolio Management Services Agreement. Past performance does not guarantee future results and there is no assurance that the managed accounts will necessarily achieve their objectives. We do not guarantee any returns in the hand of investors not we take any sort of accountability for the performance of the scheme. The above-mentioned data is collected from the respected Fund house please verify the same at SEBI website.