ICICI Ventures Real Estate Fund
ICICI Ventures Real Estate Fund invests in real estate and property projects for stable returns.
What This Strategy Does
Role in a Diversified Portfolio
CW Expert Research Notes
Performance and Risk Analysis
Historical returns, volatility patterns, and how this fund has performed relative to its benchmark.
Detailed Risks
Market Risk
Prolonged economic slowdown denting real estate demand could trigger redemptions.
Disclaimer: Investments in Alternative Investment Funds (AIFs) are complex and involve a high degree of risk. They are strictly offered via private placement and there is no assurance of returns or capital protection. Further, subscriptions to AIF funds are restricted exclusively to eligible high-net-worth individuals, institutions, or accredited investors meeting the statutory threshold. Prospective investors should review the Private Placement Memorandum (PPM) and consult their financial advisors before making an investment decision. In the case of Category III AIFs, in funds utilizing leverage there may be an increase in the volatility of returns.
Strategy Details
A closer look at the investment thesis, portfolio construction, and current holdings.
Core Investment Theme
Provides access to India's burgeoning real estate sector through a diversified portfolio of properties and projects. This theme captures the value creation from developing residential, commercial, and industrial spaces to meet rising demand fueled by urbanization and economic growth.
Broader Market View
Market Outlook
Why This Strategy is Attractive Now
Investment Style & Process
Investment Style
Why it Makes Sense
High-Level Investment Process
Fund House Management
The asset management company’s track record, AUM scale, and fund manager credentials.
Fund Manager Track Record
Puneet Nanda
Lead Portfolio Manager
Puneet Nanda is the Managing Director & CEO of ICICI Venture, a leading alternative asset management firm in India. A veteran of the ICICI Group, he previously served as the Deputy Managing Director of ICICI Prudential Life Insurance, where he played a pivotal role in driving the company’s landmark IPO in 2016. In early 2026, he was also appointed as Senior Management Personnel at ICICI Prudential Asset Management Company to oversee the strategic integration of ICICI’s private equity and real estate fund businesses. He is an alumnus of MNIT Jaipur and holds a Post Graduate Diploma in Management from IIM Lucknow.
Manager's Investment Philosophy
Puneet Nanda follows a research-led investment approach focused on identifying quality real estate assets through detailed market evaluation and physical due diligence. His approach emphasizes capital preservation, disciplined risk assessment, and selecting opportunities with sustainable demand and clear exit potential. In real estate, the focus has included affordable housing and selectively exploring commercial properties based on changing market needs.
Nimesh Shah
Co-Portfolio ManagerNimesh Shah is the Managing Director and Chief Executive Officer of ICICI Prudential Asset Management Company Limited. He has nearly three decades of experience in the banking and financial services industry, much of which has been with the ICICI Group. He joined ICICI Prudential AMC in July 2007 after serving as Senior General Manager at ICICI Bank, where he handled responsibilities across project finance, corporate banking and international banking, including helping establish the bank's presence in the Middle East and Africa. He is a Chartered Accountant (CA), a Cost and Management Accountant (CMA), and holds a Bachelor of Commerce degree. Under his leadership, the company has focused on investor-centric practices, transparency, disciplined investment management and long-term business growth. He served as Chairperson of the Association of Mutual Funds in India (AMFI) in 2018 and continues to contribute to the mutual fund industry's development.
CW Expert Take
ICICI Venture operates with an entrepreneurial mindset in alternative investments. Their strength lies in identifying niche opportunities backed by rigorous due diligence. The fund house leverages domain expertise from the parent group, combining financial analysis with operational insights to create specialized strategies like the ICICI Ventures Real Estate Fund.
Firm Overview
ICICI Prudential Asset Management Company Limited is one of India’s leading AMCs, focused on bridging the gap between savings and investments and creating long-term wealth through simple, relevant solutions. It was incorporated in 1993 and is headquartered in Mumbai. It runs as a joint venture between ICICI Bank and Prudential plc, formed in 1998, and is India’s second-largest AMC. It offers mutual funds, Portfolio Management Services and AIFs, and international advisory mandates across debt, equity and real estate. The AMC listed on the stock exchanges in December 2025 through an offer for sale by Prudential, and ICICI Bank retains the majority holding.
Investment Philosophy & Approach
Disciplined Approach
ICICI Venture follows a disciplined investment approach focused on rigorous research.
Risk Management
Risk management is embedded in the investment process through robust controls.
Long-Term Perspective
The firm maintains a long-term perspective in its investment decision-making.
Operational & Regulatory Details
What it costs to invest, transaction mechanics, and regulatory disclosures you should know.
Costs and Fees
Regulatory & Tax Information
STCG | <12 Months 20%
LTCG | >12 Months 12.5% on gain above 1.25 Lakh
Tax Implications (India)