Nuvama Asset Management and Cushman & Wakefield’s joint venture, NCW Management, has achieved the final close of its Prime Offices Fund with a corpus of ₹4,000 crore. The fund, launched in 2024 with an initial target of ₹3,000 crore, was expanded following strong investor interest and significant deployment opportunities in India’s commercial real estate sector.
NCW Management, a 50:50 partnership between Nuvama Asset Management and global real estate consultancy Cushman & Wakefield, focuses on investing in commercial office assets across key Indian markets. The fund has already committed around 45 per cent of its capital, reflecting a disciplined investment approach and strong execution capabilities.
The Prime Offices Fund has built a diversified portfolio of nearly 4 million square feet of institutional-grade office spaces across major office markets, including Delhi-NCR, Mumbai, Bengaluru, Pune, Chennai and Hyderabad. The portfolio is leased to more than 70 occupiers, with global capability centres accounting for over half of the tenant base and front-office operations contributing more than 20 per cent.
Gaurav Puri, Chief Investment Officer of NCW, said the successful fund closure highlights investor confidence in India’s office sector and the company’s strategy. He added that growth in global capability centres, increasing front-office operations and continued demand for quality workplaces are expected to support the sector’s long-term expansion. NCW Management plans to continue identifying investment opportunities in India’s office real estate market while focusing on sustainable growth and value creation.
