Private Equity

Private Equity Fund Investments

Brookfield, Godrej Fund in race to acquire IL&FS' HQ in Mumbai's BKC

Economic Times  

Brookfield Asset Management and Godrej Fund Management, the realty-focused private equity arm of the Godrej Group, are in a race to acquire the headquarters of IL&FS, in Mumbai's financial nerve-centre Bandra-Kurla Complex (BKC). IL&FS has received two final bids of around INR 1,000 crore from these institutional investors. The government-appointed board is expected to select and approve the buyer by end-December. The asset is being monetised through a price-discovery mechanism. No reserve price was set for the property spread over 10 floors. However, the IL&FS board had estimated the property might fetch around INR 1,200 crore.