Berggruen Holdings Lines Up 300 M Investment For India
New Yorkbased fund Berggruen Holdings which manages proprietary capital worth over 1.5 billion plans to invest over 300 million in India over the next three years in hospitality real estate education car rental construction equipment leasing and logistics businesses.
Of this the bulkaround 200 millionwould go into real estate projects spread across commercial residential and retail spaces while the remaining would be for setting up 40 budget hotels across the country. The fund also made a foray into equipment rental business by picking up around 90 stake in a Mumbaibased company for around 10 million. It also invested a similar amount for its car rental business.
For its foray into education business Berggruen Holdings has partnered with a group of hospitality professionals to offer short and long term specialised programmes through 50 training schools across the country. Apart from the hospitality sector the education business would also focus on offering specialised training in sectors such as retail aviation and tutorials.
Kabir Kewalramani managing director BH Advisors which manages Berggruen Holdings investments in India told ET that the fund has already made investments worth 60 million in the real estate space. It has recently coinvested in an 125acre mixeduse property in Mohali near Chandigarh and is part of an IT park project in Hyderabad. A typical deal size in the real estate space is likely to range between 3050 million. We hope to invest around 200 million in the real estate space in the next two years Mr Kewalramani said.
Earlier this year the fund had announced plans to launch its budget hotel brand in India Keys with an investment of around 100 million over a threeyear period across 40 sites. The first property is expected to be operational by the year end at Goa. Construction is currently on in at least three sites including Trivandrum Bangalore and Kovalum.
Berggruen Holdings is a private company with interests in private equity stocks and bonds hedge funds art and real estate which manages funds of the Berggruen family.
For more information on Real Estate Agents MLS visit Propertiesmls.com
Source: IndiaRealEstateblog
About the writer: None
Related posts: