Singapore headquarters private equity fund, Ascendas-Singbridge plans to float a separate fund to invest in the country’s warehousing segment.
“We do not want to be dependent n a particular sector and is looking to derisk our self. As an organisation we have the capability to build warehouse, control and manage development,” said Sajay Dutta CEO Ascendas-Singbridge. However he did not share the size of the fund that will be raised to invest in the Indian warehousing space. “We will be crystallising our new initiative by the end of this year,” said Dutt. Ascendas-Singbridge will establish a logistics park on minimum 50 to 100 acres of land in the outskirts of major cities. The company will look at setting up warehouses in nodal manufacturing hubs like Bhiwandi, Hoskote, Nagpur, Thane, Raigarh district and Chakkan among others.