Private Equity

PE-RE Fund Investments

GIC to pick up 3 mn sq ft in Bengaluru's Bharatiya City for Rs 2,800-Cr

Economic Times  

Singapore's sovereign wealth fund, GIC, is in talks with the Bhartiya Group to invest INR 2,800 crore in its commercial project in Bengaluru. The deal will see GIC picking up 3 million sq ft of commercial assets in Bhartiya City,a 125-acre township project from the builder, along with some revenue from its facilities management business. The money will be used by the Bhartiya Group to repay part of its debt on commercial property that houses firms like IBM and Infosys. For GIC, this is the second-largest deal in South India this year. The fund, joinly with the Brigade Group, is also in the final stage of buying 5.5 acres of prime real estate on Anna Salai from the TVS Group.