MUMBAI: Bahrain-based Investcorp, a global investment manager specializing in alternative investments, said it has led a USD 55 million (around Rs 411.45 crore) investment in NDR Warehousing.
NDR has a well-diversified asset portfolio comprising 18 logistics parks across Chennai, Mumbai, the National Capital Region, Bengaluru, Coimbatore and Kolkata.
Over the next few years, the Bengaluru-based logistics player is planning to double its portfolio from the current 11.6 million sqft as it expands into Pune and Goa. The company claims a high-quality tenant base and has a current occupancy rate of over 99 per cent.
Ritesh Vohra, a partner and head of real estate at Investcorp India, said Investcorp has been actively investing in the warehousing sector globally for many years now.
N Amrutesh Reddy, Managing Director of NDR, said, the company intends to continue the aggressive growth plans nationally, underpinned by the strong execution capabilities and long-standing tenant relationships. He did not say who are other investors are or how much equity has been diluted in favor of the new investors.
Investcorp's India realty team invests in real estate projects located in top-tier cities. So far, it has deployed USD 200 million through two funds across 26 projects.
It has an established history in the senior structured credit space within real estate, with a focus on mid-market and affordable residential projects being developed by well-established developers.
Investcorp India is also active in the mid-market private equity space and has invested across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors.
Its investments over the last four years include Intergrow Brands, Bewakoof.com, Freshtohome, Zolo, InCred, Citykart, ASG, NephroPlus, Unilog, XpressBees, and Safari Industries.
Founded in 1982, Investcorp has 13 offices across the US, Europe, the GCC, and Asia, including India, China, and Singapore. As of December 2021, it was managing assets worth USD 40.4 billion, including assets managed by third-party managers.