Investcorp International Holdings Inc. raised US$130 million in anchor commitments for its Indian real estate direct lending initiative, Property Funds World reported Jan. 13.

As the initiative's key investor, BAE Systems Pension Funds Investment Management Ltd. will focus on projects in the midmarket housing segment in the country's top seven cities.

The global alternative asset management firm manages more than US$28 billion around the world, investing in more than 765 properties totaling US$18 billion. Investcorp deployed US$200 million in India through two funds across 27 residential projects.