Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Singapore’s CapitaLand raises $99-M from Japan's Daibiru Corp for India fund
CapitaLand Investment (CLI) has secured SGD 131 million (about USD 99 million) capital commitment from a new Japanese capital partner, Daibiru Corporation, for its India private fund, CapitaLand India Growth Fund 2 (CIGF2).Daibiru Corporation is a real estate subsidiary of shipping major Mitsui O.S.K. Lines, in Japan. The capital commitment will increase CIGF2’s FUM to more than SGD 1 Billion.Daibiru Corporation will hold a 25% effective stake in the SGD 525 million CIGF2, which invests in Grade A business parks in prime locations across gateway cities in India. Another Japanese firm, Mitsubishi Estate Co, holds a 50% stake in CIGF2. CLI continues to maintain a sponsor stake in the fund.Daibiru’s investment in CIGF2 will see the real estate company take a 25% effective stake in International Tech Park Chennai, Radial Road (ITPC-Radial Road). Located in the business hub of Chennai, the 2.6 million-square feet ITPC-Radial Road caters to the IT / IT-Enabled Services sector. Over time, CIGF2’s portfolio is also expected to include business parks in Bengaluru, Mumbai and Pune.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.