China’s Fosun forays into Indian realty sector – Feedback

Chinese conglomerate Fosun International is making an entry into the Indian real estate space and plans to invest close to $1 billion here through a real estate private equity platform it is setting up here, said two people close to the development.

The diversified investment firm is bringing on board Apurva Muthalia, the CEO of Aditya Birla Real Estate Fund, to head this new arm in India, which will first start with buying income-producing rental assets in the country , just like Blackstone and some other large global funds have done so far.”It will also buy some development assets in the top cities that will be developed later when they set up a construction arm here to build large projects,” said one of the persons, requesting anonymity . Fosun is also in talks with a few established real estate fund businesses in India, including Rising Straits Capital to invest monies in their funds. “This is similar to what large investors like GIC do. They put money in other funds and also make investments on their own when an opportunity arises. Fosun will have a similar play here. They are looking at buying an asset in Mumbai,” said the second person.

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *