Investcorp, a global investment manager specialising in alternative investments, has pumped in Rs 500 crore more into NDR Warehousing. This is the second investment that the fund has made into the warehouse development and operating platform. It had invested USD 55 million last year, the fund said in a statement Monday.
Investcorp’s India real estate team invests in real estate projects located in top tier cities and so far, it has deployed over USD 350 million across the warehousing, residential and education related sectors broadly with a social infrastructure focus. NDR has a diversified asset portfolio comprising warehouses across 10 cities including Chennai, Mumbai, Coimbatore and Kolkata, offering over or 14 million square feet area with an aggregate occupancy rate of over 95 per cent. It also has around 5 million square feet under construction.
NDR is considering listing part of its warehousing portfolio as an Infrastructure Investment Trust (InvIT) later this year. “Our second investment into NDR within a span of 18 months is a testimony to NDR’s market leadership and robust performance, as well as to our conviction on the warehousing sector in India. “We anticipate strong tailwinds and a long runway ahead for the sector and with an InvIT listing under evaluation, we expect NDR will be well positioned to capitalise on these market dynamics,” Ritesh Vohra, a partner and head of real estate at Investcorp India, said.
Investcorp is also active in the mid-market private equity space in the country and has invested across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors. Over the last four years, it has invested in various entities, including Intergrow Brands, Freshtohome, Zolo Stays, Incred Finance, Citykart, Wakefit, Insurance Dekho, Unilog and Xpress Bees.
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