GIC infuses ₹2,800-cr in realty project in Bengaluru
GIC is the world's sixth largest sovereign wealth fund with $440 billion in assets under management and the newest would be its second largest deal in south India this year. Together with the Brigade Group, the fund is also in the final stages of buying 5.5 acres of prime property from the TVS Group along Chennai's famous Mount Road (Anna Salai) in a deal worth over ₹550 crore and has also recently invested over ₹5,500 crore in Reliance Retail Ventures. It is worth mentioning here that private equity investments continue to be driven by foreign investors, whose pension and sovereign funds are betting on income-yielding assets in the office, retail and industrial sectors. Global funds like Blackstone, Hines, Brookfield Asset Management, Ascendas, CPPIB, Mapletree, and Goldman Sachs are going all out to expand their portfolios in India.