Singaporean asset manager CapitaLand has launched its second private Indian logistics fund of INR22.5bn (€190m) to develop assets in major Indian cities.
CapitaLand India Logistics Fund II will focus on the large cities of Ahmedabad, Bangalore, Chennai, Mumbai, National Capital Region, and Pune. It will also invest in emerging markets, such as Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow.
The group launched its first private Indian logistics fund in 2018, raising a similar amount of capital, which it since been deployed.
“With our second logistics fund, we will further extend our presence in India’s logistics sector. We see significant opportunities,” said Jonathan Yap, president, CapitaLand Financial, CapitaLand Group.
Yap, who oversees CapitaLand’s business in India, said CapitaLand invested in India’s growing logistics sector through both its private funds and its business trust, Ascendas India Trust, which currently owns seven warehouses in the Arshiya Free Trade Warehousing Zone of Navi Mumbai.
In total, he said, CapitaLand planned to develop a logistics portfolio of 20-25m sqft of space in India by 2025.
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