PE-RE Fund Investments
PAG invests $65-M in Ashwin Sheth Group’s South Mumbai project; JC Flower exits
Alternative investment firm PAG has committed USD 65 million for the construction of a project in Mumbai by Ashwin Sheth Group , with a gross development value of INR 2,300 crore. The realtor has acquired a 50% stake in Project One Marina, a luxury residential development coming up in South Mumbai’s Marine Drive.Part of the funds raised from PAG were used to facilitate the exit of JC Flower ARC, whose loan from Yes Bank was settled by Ashwin Sheth Group to clear the way for the new partnership. PAG will also be supporting the project through its construction phase.
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