MUMBAI: Global private equity major Blackstone, which has USD 20 billion assets under management in India, has launched a logistics platform Horizon Industrial Parks. Horizon Industrial Parks is a portfolio of logistics parks owned and managed by Blackstone Real Estate Fund and will support its rapidly expanding logistics footprint in India, Blackstone said in a statement on Friday.
The platform is one of the largest portfolios of its kind and comprises warehousing and industrial parks in major cities. Horizon Industrial Parks will be headed by Rahul Pandit as chief executive and the platform will focus on providing best-in-class solutions for the logistics needs of industrial and warehousing segments.
The portfolio is assembled through a number of marquee investments, including Embassy Industrial Parks, Tarc, and Allcargo, and is anchored by tenants in fast-growing sectors like e-commerce, retail, electric vehicles, and logistics.
According to Asheesh Mohta, head of real estate acquisitions at Blackstone India, the fund has built Horizon Industrial Parks into one of the largest and most distinguished logistics portfolios in the country.
In India, Blackstone also owns Nucleus Office Parks and Nexus Malls, platforms for its office and retail portfolios, respectively. Blackstone India has assets under management worth USD 60 billion. Globally, Blackstone has a strong track record of building high-quality logistics real estate platforms.
These include Milestone in Australia, which it sold last year in the biggest private real estate transaction there at that time; Mileway, the largest owner of last-mile logistics assets in Europe; and Dragoncor in China, which ranks among the top five largest logistics portfolios there.
Blackstone is a global leader in real estate investing having entered the business in 1991 and has USD 279 billion of investor capital under management.