Private credit and real estate investor Veld Capital has sold its education infrastructure assets in India to an unnamed international private equity investor for an undisclosed amount.
Veld said the portfolio, held in partnership with JV Ventures, comprised nine distinct K-12 school and student housing assets, with a total built-up area of 1.6m sqft. Veld made the portfolio’s first investment in Bengaluru in 2019.
Rakesh Balasundaram, managing director at Veld Capital, said: “The effective execution of this strategy demonstrates our ability to extend Veld’s successful track record outside of Europe for the first time.
“As now one of the most populous and consistently high growth economies in the world, India represents a compelling long-term investment opportunity, with few players bringing the capabilities and focus to providing structured funding solutions in what is an under-developed mid-market, building directly on our extensive experience in Europe and now established Indian team.”
Jasmeet Singh Chhabra, co-founder at JV Ventures, said: “India is experiencing a paradigm shift towards rapid urbanisation, creating primary opportunities for social infrastructure and services. JV Ventures continues to build a differentiated opportunity in institutionalising social infrastructure investing.”
Harsh Doshi, investment director at Veld Capital, said: “Looking to 2024, we are continually seeking new investment opportunities on the ground in India as well as partnerships with specialist operators. We now look forward to progressing our strong origination pipeline already in place and investing across developing themes in mid-market real estate and credit.”
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