India's IndoSpace raises $330 mln fund

MUMBAI Tue Jan 21, 2014 6:19am EST

MUMBAI Jan 21 (Reuters) - IndoSpace, a property fund jointly owned by India's Everstone Capital and North American investor Realterm Global, has raised $330 million for a fund that will invest in industrial real estate in the country, the company said on Tuesday.

The fund, the second by IndoSpace, was raised mainly from leading endowments, foundations, sovereign and pension funds, the statement said. IndoSpace had raised its first fund of $240 million in 2009.

IndoSpace is developing about 32 million square feet of large-scale modern industrial and warehousing facilities across Mumbai, Pune, Bengaluru, Chennai, New Delhi, Ahmedabad, and Kolkata.

Its tenants include leading multinational companies and third-party logistics players, the statement said. (Reporting by Indulal PM; Editing by Anand Basu)

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