Mumbai: In one of India’s biggest transactions to help build a property investment platform, private equity major
Warburg Pincus has entered into a $1-billion alliance with developer
Runwal Group to fund retail-led mixed-use projects across the country. ET was the first to report on the platform’s establishment on November 22.
Both partners, an affiliate of Warburg Pincus and Runwal, will commit $200 million each in the form of equity and will also raise additional $600 million of debt to create a total corpus of $1 billion. The platform will invest in and develop prime shopping malls across tiers 1, 2, and 3 cities in
India, locations that have sizeable populations and increasing disposable incomes.
An affiliate of Warburg Pincus and Runwal Developers will each hold 50%. The platform will look to build large destination malls and smaller hypermarket and cinema anchored community malls.