CapitaLand: C31 +2.58% has launched a second logistics private fund in India worth S$400 million for expansion in the country's logistics sector, the property giant said on Wednesday.
The CapitaLand India Logistics Fund II will invest in the development of key warehousing and manufacturing hubs in six major cities including Ahmedabad, Bangalore, Chennai, Mumbai, the National Capital Region and Pune, and in emerging markets such as Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow.
Ascendas-Firstspace will be managing the assets of CapitaLand India Logistics Fund II. It also manages the assets of CapitaLand's first logistics private fund in India, the S$400 million Ascendas India Logistics Programme.
President of CapitaLand Financial Jonathan Yap, who oversees CapitaLand's business in India, said: "With our second logistics fund, we will further extend our logistics presence in India and deliver more quality logistics facilities, while generating attractive returns for our investors."
He said the group will continue to invest in India's logistics sector through its private funds and its business trust Ascendas India Trust, as it sees opportunities in India's logistics sector.