Taurus Sage Fund

India Real Estate Asset Platform

The Taurus Sage Funds Management platform brings together significant global expertise in Real Estate asset management. With Real Estate development & financing experience embedded in the core of its DNA, the platform is able to identify, acquire, develop and monetize real estate investments seamlessly.

The Taurus Sage partnership which sponsors the IREAP (India Real Estate Asset Program) platform is an amalgamation of the global Real Estate experience of Taurus spread across both developed and emerging markets and the extensive India Private Equity and Real Assets experience of Sage. Both managers will jointly assess risks for evaluated opportunities, secure key terms and put in place a robust asset management & monitoring process.

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Investment Strategy

Taurus Sage Funds Management LLP is the Investment Manager for the IREAP (India Real Estate Asset Program) platform. IREAP platform aims at opportunistically investing in high-quality real estate assets and development opportunities across India’s fastest-growing cities.

Fund Features

Strong Leadership & Advisory Board: Signiﬁcant proven investment management experience and internationally acclaimed advisory board with thought leaders and real estate practitioners
Risk Management Framework: Thoroughly underwritten, risk eliminated, exit focused, investment thesis in Commercial RE
Active Investment Management: Sponsors will actively oversee and help manage all investments through their highly experienced, multi-functional, on-the-ground team
Signiﬁcant Sponsor Commitment: 10% of aggregate total, subject to maximum capital commitment of $15 Million via investments in seed assets

Investment Strategy

Location Strategy: Tier 1 cities such as Hyderabad, Bangalore, Chennai, and Mumbai. Fast growing, attractive, Tier 2 markets such as Trivandrum, Vizag, Mysore, Pune and other cities
Asset Strategy: Build-to-Core, Class A Office, Retail-led Mixed-Use, and Life Science assets
Investment Structure Strategy: Structured equity/debt & mezzanine transactions with adequate asset cover
Development Strategy: Deployment via Own Development Manager and/or in partnership with Established Developers with robust track record and market access

Build to Core Strategy

Opportunity: High quality (Core) Operating assets are almost non-existent in India post the massive wave of acquisitions by institutional platforms between 2014 and 2020
Returns: Built-to-Core development of commercial RE assets allows investors to beneﬁt from strong capital appreciation because the investment is at cost (of development) but exits can be achieved at par with core assets.
Target Range: 18%-22% (INR) Annualised
Direct Exits: Commercial assets exited to REITs/institutional platforms with post-completion sale or forward purchase arrangements; option to float in-house platform/REIT to list portfolio at later stage

People

Leadership Team

Manish Kanchan

Chairman and Chair of Investment Committee

Founder and owner of Sage Capital, a private equity firm started in 2010 with Natixis Bank, France as partner.

Trusted advisor to investors, ultra-high net worth individuals, corporates, CEOs and entrepreneurs around the world.

Prior to this he was the Partner & Chief Executive Officer of Ambit Capital.

Chartered Accountant with more than 35 years of professional experience.

Lectured at Indian School of Business.

Served on the Parent Advisory Board of Stanford University, California, United States.

Ajay Prasad

CEO & Vice Chair of Investment Committee

Managing Director and CEO of Taurus India

20 years of leadership experience in Private Equity Real Estate investment, Real Estate Development and Strategy Consultant with Taurus, Emaar, and Accenture

Led over 15 million square feet of real estate investments and development

Advisor for IT infrastructure development and investment to the Chief Minister of Kerala State and former chair of the Retail Committee of the Global Real Estate Institute

Alumnus of the Massachusetts Institute of Technology and the Indian Institute of Management, Calcutta.

Anil Kumar

Chief Operating Officer

40 years of experience in leading large projects across infrastructure and real estate development

Responsible for all day-to-day operations in India including existing and new projects.

Prior to joining Taurus, he was Chief Engineer (Dam Safety) with the Kerala State Electricity Board

Alumnus of College of Engineering, Trivandrum.

Advisory Board

Mark Fuller

Co-founder and former Chairman & CEO of the Monitor Group

Chairman & CEO of ROSC Global and ROSC Investments

40+ years of leadership experience in Strategy Consulting, Private Equity investment and advisory to public and private sector leaders

Former Professor at Harvard Business School

Dr. Hani K. Findakly

Former Chief Investment Officer of the World Bank Group

Former Vice-Chairman of the Clinton Group Inc

Over 50 years of experience in Investment Management and academia

Received his MS and Doctorate from the Massachusetts Institute of Technology

Dr. Russell Read

Co-Founder and Chief Investment Officer at MEASA Partners, where he leads global investment initiatives.

Previously served as Chief Investment Officer for both the California Public Employees’ Retirement System (CalPERS) and the Alaska Permanent Fund

Currently serves on the Investment Funds Committee for the State of Wyoming’s Treasurer’s Office.

Russell holds a Doctorate in economics from Stanford University

Sustainable Investing

The Taurus Sage Funds Management program provides its stakeholders with an investment platform that excels in its commitment to ethical, sustainable and responsible investing.

Whether it is building LEED- certified office spaces, or building energy efficient, safe & sustainable residences for lifestyle conscious occupiers, our investment philosophies are prioritized by those environmental, social and governance (ESG) factors that are most material for a given investment.

Contact Us

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