Global real asset manager CapitaLand Investment Limited (CLI) has secured an initial S$150m (€100m) for its India data centre fund.
The manager said the CapitaLand India Data Centre Fund (CIDCF), which is anchored by an unnamed third-party global institutional investor with a general partner commitment from CLI, expects a final close of approximately S$300m.
CIDCF targets data centre development projects within India’s primary data centre corridors.
Following its first close, CIDCF will acquire a 20.2% stake in three data centres from CapitaLand India Trust (CLINT) for S$99.73m. The agreement also grants CIDCF a right of first offer to acquire an interest in CLINT’s fourth facility, CapitaLand DC Bangalore.
Andrew Lim, group COO for CLI, said: “The successful first close and investor support in CIDCF underscore CLI’s investment and development strategies to shape India’s dynamic data centre landscape. India has emerged as a hotspot for data centre investment, driven by cloud adoption, data localisation and the rapid growth of AI-led workloads.
“The country’s data centre capacity is expected to double by 2027. With three prime assets currently under development and power secured, CIDCF offers an attractive prospect for private capital to participate in this growth opportunity.”
Hardik Gesota, MD and head, India private funds, CLI said: “CIDCF’s portfolio is strategically located within India’s established data centre corridors with access to power and network connectivity.
“It is poised to meet growing demand from hyperscalers and enterprise customers. CLI has gained deep experience operating in India for over 30 years.”
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