Investcorp, a global investment manager specialing in alternative investments, on Wednesday said it has led a $55 million investment in NDR Warehousing Pvt Ltd.
Chennai-based NDR’s portfolio comprises 18 logistics parks spread across eight cities including Chennai, Mumbai, National Capital Region (NCR), Bengaluru, Coimbatore and Kolkata. Over the next few years, the company is planning to double its portfolio from the current 11.6 million sq ft, as it expands into other cities such as Pune and Goa.
“Given the strong fundamentals and attractive secular tailwinds, Investcorp has been actively investing in the warehousing sector globally for many years now. In our experience, warehousing has been one of the few sectors to have demonstrated resilience and continued growth, despite the economic headwinds brought by the pandemic. This structured equity investment in India, backed by a robust operational portfolio, will provide our investors with an opportunity to invest in one of the attractive real estate growth opportunities, with what we believe are attractive risk-return metrics," said Ritesh Vohra, partner and head of real estate at Investcorp India.
Investcorp’s India real estate team invests in projects located in top tier cities, and has deployed $200 million through two funds across 26 projects.
It invests in the senior structured credit space within real estate, with a focus on mid-market and affordable residential projects.
N Amrutesh Reddy, managing director at NDR said, “…We intend to continue our aggressive growth plans nationally, underpinned by our strong execution capabilities and long-standing tenant relationships."
Investcorp is also active in the mid-market private equity space in India and has invested across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors.
Its investments over the last four years include Intergrow Brands, Bewakoof.com, Freshtohome, Zolo, InCred, Citykart, ASG, NephroPlus, Unilog, XpressBees, and Safari Industries.
In the upcoming Union Budget for FY' 22-23, Indian government is set to make big announcements for various sectors, including health, infrastructure, real estate, defence, hospitality and MSMEs(Micro, Small and Medium Enterprises).
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