NEW DELHI: CapitaLand Investment (CLI), has secured S$131 million capital commitment from Daibiru Corporation, for its India private fund, CapitaLand India Growth Fund 2 (CIGF2).
Daibiru Corporation is a real estate subsidiary of Mitsui O.S.K. Lines in Japan. The capital commitment will increase CIGF2’s FUM to more than S$1 billion.
Daibiru Corporation will hold a 25% effective stake in the S$525 million CIGF2, which invests in Grade A business parks in prime locations across gateway cities in India.
Mitsubishi Estate Co., another Japanese firm, holds a 50% stake in CIGF2. CLI continues to maintain a sponsor stake in the fund as part of its asset-light growth strategy.
Daibiru’s investment in CIGF2 will see the real estate company take a 25% effective stake in International Tech Park Chennai, Radial Road (ITPC-Radial Road).
