Recently, Singapore-based real estate group CapitaLand said a fund worth INR 2,250 crore to develop logistics parks in India. CapitaLand is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth about Singapore dollar (SGD) 137.7 billion.
The Company, states, “CapitaLand has launched its second logistics private fund of SGD 400 million (INR 22.5 billion) to expand in India’s logistics sector, one of the largest globally. CapitaLand India Logistics Fund II will invest in the development of logistics assets in key warehousing and manufacturing hubs in six major cities - Ahmedabad, Bangalore, Chennai, Mumbai, National Capital Region (NCR), and Pune, as well as in emerging markets such as Coimbatore, Guwahati, Jaipur, Kolkata, and Lucknow.”
The new fund will raise CapitaLand’s present total funds beneath management (FUM) of SGD 79.2 billion across over 20 private funds and six listed trusts.
CapitaLand India Logistics Fund II follows the thriving deployment of CapitaLand’s first logistics private fund, the SGD 400 million Ascendas India Logistics Programme launched in 2018, to develop six logistics and industrial projects in Bangalore, Chennai, NCR, and Pune. The six projects have a total development potential of over 12 million sq ft of space.
Two of the projects are operational with 2.8 million sq ft of space that has been leased.
“The launch of CapitaLand’s second logistics fund in India is in line with the group’s strategy to expand our fund management business to generate recurring fee-related earnings (FRE) and grow the group’s assets under management (AUM) in a capital-efficient way,” said, Jonathan Yap, President, CapitaLand Financial, CapitaLand Group.