1 hr ago
Mapletree Targets Up to $500 Million for India Fund Investments
Mapletree is planning a large fund for warehouse projects in Asia.
The fund is called Mapletree Emerging Growth Asia, or MEGA.
It may invest about $400 million to $500 million in India.
The whole investment plan is valued at about $2.1 billion.
Malaysia and Vietnam are also important markets for the fund.
The fund already has some projects in all three countries.
It has received $250 million from investors so far.
Mapletree wants to raise another $200 million for the next funding round.
The company is also expanding its warehouse business through Mapletree Logistics Trust.
Mapletree is considering deploying $400 million to $500 million of its MEGA fund in India.
The Mapletree Emerging Growth Asia fund targets $2.1 billion in total investment value.
MEGA plans to develop warehousing properties in India, Malaysia and Vietnam.
The fund has secured $250 million for its first close and is seeking another $200 million.
Mapletree Logistics Trust bought a warehouse near Bhiwandi from Morgan Stanley for Rs 389 crore.
- Who
- Mapletree, through its Mapletree Emerging Growth Asia fund, and Mapletree Logistics Trust.
- What
- Mapletree is considering investing $400 million to $500 million in India as part of a $2.1 billion Asia logistics strategy.
- Where
- India, Malaysia and Vietnam, with India investments focused on six core markets and potential new markets.
- When
- The investment plans were reported after MEGA’s first close earlier this month; a second close is targeted for early next year.
- Why
- To develop and expand warehousing properties across emerging Asian logistics markets.
Key facts
- Fund
- Mapletree Emerging Growth Asia (MEGA)
- Target investment value
- $2.1 billion
- Potential India allocation
- $400 million to $500 million
- Other targeted markets
- Malaysia and Vietnam
- First-close commitments
- $250 million
- Additional capital sought
- $200 million for a second close targeted by early next year
- Target return
- Internal rate of return above the mid-teens
Quotes
A source familiar with the matter
Source providing information about Mapletree’s fund allocation plans
“Though they have investment target of $ 2.1 billion, they are looking at $ 400 million to $ 500 million here”
financialexpress.com
“In India , they are looking to deepen their presence in six core markets and looking at new markets”
financialexpress.com
Sources
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