Structured real-estate private credit fund research profile
LICHFL Real Estate Debt Opportunities Fund I is a Category II AIF for structured, asset-backed credit to Indian housing and residential development. The manager’s 2026 notices name current Pune, Navi Mumbai and Chennai deployments, while case studies document exits from Adarsh Greens and Gami projects. This is one canonical LRDOF-I record; the manager’s reference to it as its third fund is not treated as a separate duplicate vehicle.
At a glance
Research profile
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Investment lens
LICHFL Real Estate Debt Opportunities Fund I uses a structured real-estate private credit approach across Affordable housing, residential real estate, SME developers.
Current evidence
LICHFL AMC’s 2026 announcements identify INR 90 crore Kharadi Pune, INR 50 crore Kharghar Navi Mumbai and INR 130 crore Chennai structured-credit investments through LRDOF-I, while the manager also reports a successful INR 150 crore Navi Mumbai portfolio exit. The official leadership page names the current CEO and CIO.
Strategy
Structured real-estate private credit
Sector focus
Affordable housing, residential real estate, SME developers
AIF structure context
Indian private credit, venture-debt and special-situations funds are commonly structured as Category II AIFs. Verify the specific vehicle and registration before investing.
Current signal
LICHFL AMC’s 2026 announcements identify INR 90 crore Kharadi Pune, INR 50 crore Kharghar Navi Mumbai and INR 130 crore Chennai structured-credit investments through LRDOF-I, while the manager also reports a successful INR 150 crore Navi Mumbai portfolio exit. The official leadership page names the current CEO and CIO.
Investor questions
LICHFL Real Estate Debt Opportunities Fund I is covered in Rupeia's private credit research universe. The current public record describes the strategy as Structured real-estate private credit, with a sector focus of Affordable housing, residential real estate, SME developers. The profile should be read with the linked source trail and Typical route: Category II AIF context.
The profile displays only company or asset names attributable to LICHFL Real Estate Debt Opportunities Fund I in the reviewed public sources: Adarsh Greens; Gami Jade; Gami Terra; Laxmi Realty Holdings Private Limited. It does not represent a complete current portfolio unless the manager has published one.
LICHFL’s public case studies report a fully exited Adarsh Greens investment at 25% gross IRR and 1.51x MOIC, and fully exited Gami Jade/Gami Terra investments at 18.5% gross IRR and 1.53x MOIC. A complete audited fund-level return series is not publicly disclosed. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Proposed corpus INR 3,000 crore plus INR 1,000 crore greenshoe option, according to the official fund page; final close and current committed capital are not publicly disclosed.. Public terms or access information: Eight-year structured-debt AIF with a stated 3–6 year investment horizon per portfolio company. The official page describes a 10% INR hurdle, 8% USD hurdle and target IRR of approximately 20%+, with project-level security, promoter support, cash-flow controls and SPV structures. Exact fee, carry, waterfall and liquidity terms are not publicly disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Devojit Sanyal (Director & CEO, LICHFL AMC); Ujwal Parekh (Chief Investment Officer, LICHFL AMC); Jayshree Kakani (Company Secretary). Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review borrower concentration, security and seniority, cash versus accrued income, defaults, recoveries, fund leverage and liquidity. The current open diligence point is: Public materials name four attributable companies or projects and several additional current project locations, but do not provide a complete borrower schedule. Final close, current NAV, fees, carry, audited vehicle-level returns and full current portfolio remain not publicly disclosed..
2026-08-01: LICHFL AMC’s 2026 announcements identify INR 90 crore Kharadi Pune, INR 50 crore Kharghar Navi Mumbai and INR 130 crore Chennai structured-credit investments through LRDOF-I, while the manager also reports a successful INR 150 crore Navi Mumbai portfolio exit. The official leadership page names the current CEO and CIO.
Next step
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