IndoSpace reportedly raises first tranche of the $550 million funding

October 23, 2017: Exuding confidence on the boom fuelled by increasing e-commerce businesses and uniform tax reforms in the country, industrial real estate investor IndoSpace is raising $550 million for its third fund, reported The Economic Times. The move comes five months after selling a significant chunk of its logistics assets to Canada Pension Plan Investment Board (CPPIB).

The joint private equity investment platform has made a first close of $300 million and is expected to make the final close within a few months, said sources in the know. 

IndoSpace is jointly owned by homegrown private equity investor Everstone Capital and Realterm Global. Realterm, which has presence across North America, Europe and India, manages about $2.5 billion across 300 properties.

Indospace had raised $240 million for its first fund in April 2009. It closed the second fund at $330 million in January 2014.