![]() A joint venture between GIC, the sovereign wealth fund of Singapore, and ESR Group Ltd. aims to establish a USD 600 million fund for the purchase of logistical and industrial assets in India. An 80:20 strategic partnership between GIC and ESR was launched in order to form the 600 million USD fund for the purchase of “income-producing properties.” A number of industrial and logistics parks are already being built by ESR in important Indian cities. With the first capital pool allocated to investing in development and value-add to logistics and industrial possibilities across India, the joint venture represents an expansion of the current collaboration in India between the GIC and ESR, which was started in 2020. In strategic sites across Tier 1-2 cities nationwide, it will invest in operational assets that have been stabilised, according to a statement. |