New Category II AIF: HiLITE’s Rs 200 Crore Fund
Expanding its three-decade journey in real estate and development, HiLITE Group is set to enter the investment management sector with the introduction of its new vertical, HiLITE Investment Management. The venture marks an expansion of the Group’s presence beyond real estate development, into a new area of business. Its first offering, HiLITE Ethical Fund 1, is a real estate-focused fund with a maximum fund size of Rs. 200 crore, marking the beginning of the Group’s journey in professionally managed investment opportunities.
Registered with SEBI as a Category II Alternative Investment Fund (AIF), HiLITE Ethical Fund 1 is designed for high-net-worth individuals and institutional investors seeking long-term opportunities in real estate. A key distinction of the fund is its Shariah certification by TASIS (Taqwaa Advisory and Shariah Investment Solutions Pvt. Ltd.), bringing an ethical framework to its investment approach. With this venture, HiLITE Group aims to extend its understanding of the real estate sector to a wider investment landscape, combining industry experience with a structured approach to investment management.
The fund will primarily focus on greenfield developments and brownfield developments, with an emphasis on disciplined capital management. It has a seven-year tenure and a minimum investment commitment of Rs. 1 crore, payable in instalments over 36 months. As real estate projects typically have development periods of two to four years, distributions to investors may commence from the fourth year onwards, with returns varying based on project realisations and overall fund performance.
Each investment opportunity undergoes an initial assessment by HiLITE Investment Management to ensure alignment with the Shariah guidelines set by TASIS, followed by a review by its Shariah advisory team.
This process brings an added layer of ethical oversight to the fund’s approach to real estate investment. The fund is supported by an institutional partner network that includes PwC as fund auditor, Mitcon Credentia as trustee, SBI as banker, Nuvama as custodian, and Ajmal & Company as regulatory advisor.
Commenting on the upcoming launch, HiLITE Group Chairman P. Sulaiman said, “Over the past three decades, HiLITE Group has grown by identifying opportunities and building value across sectors. HiLITE Investment Management is a natural extension of this journey. We believe investment should be guided not just by returns, but also by strong ethical principles. Our Shariah-certified approach reflects this belief. We aim to build this venture on the trust, values and commitment that have shaped HiLITE over the years.”
“Our entry into investment management is driven by a larger vision of bringing our experience in real estate to a wider investment landscape. We see an opportunity to offer high-net-worth individuals access to professionally managed, real estate-focused investment opportunities, supported by a structured and disciplined approach. As we expand into this sector, our focus will remain on careful decision-making, responsible practices and creating long-term value,” said HiLITE Group CEO Ajil Muhammed.
Over the past 30 years, HiLITE Group has played a defining role in shaping Keralam’s real estate landscape through landmark developments, including Focus Mall, Keralam’s first mall; HiLITE City, South India’s largest mixed-use development; and World Trade Center Kozhikode, one of the world’s largest World Trade Centers. With a vision to develop 50 million sq. ft. across Keralam by 2030, the Group continues to expand its presence across sectors. Building on this experience, HiLITE Investment Management aims to establish itself as a trusted name in professionally managed, Shariah-certified real estate investment, contributing to the growth of real estate as an asset class through responsible practices and a long-term outlook.
More details are available at www.hilitefunds.com, Ph: +91 9061340044
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