PE Fund Investments
Actis acquires life sciences realty platform Rx Propellant, to invest $200-M
Actis has acquired Rx Propellant, a Hyderabad-based company focused on providing real estate solutions to tenants in the life sciences and related sectors. The London-headquartered investment firm is to initially invest USD 200 million (INR 1,552 crore) into RX Propellant to expand its operations under its ‘buy and build' program targeting both greenfield and brownfield assets with an emphasis on sustainability. Rx Propellant leases real estate to research & development (R&D) labs and associated facilities of life sciences companies with a focus on life sciences clusters in Hyderabad, Bangalore and Mumbai. Currently, Rx Propellant is involved in the development and marketing of several real estate projects in design-development stages across Hyderabad and Bangalore, aggregating over 3 million sq ft.
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