Investcorp, an investment manager specializing in alternative investments, announced leading a $55 million investment in NDR Warehousing Private Limited (NDR), one of India’s largest warehousing platforms.
With an asset portfolio of 18 logistics parks, NDR has a presence in 8 cities including Chennai, Mumbai, NCR, Bangalore, Coimbatore, and Kolkata, and plans to double its portfolio from the current 11.6 million square feet in the next few years, as it expands into other cities such as Pune and Goa.
Its portfolio has performed resiliently even during the Covid pandemic due to its high-quality tenant base and the current occupancy rate of over 99%.
“Given strong fundamentals and attractive secular winds, Investcorp has been actively investing in the warehousing sector globally for many years now. In our experience, warehousing has been one of the few sectors that have shown continued resilience and growth, despite the economic headwinds brought by the pandemic. This structured equity investment in India, backed by a strong operating portfolio, will provide our investors with the opportunity to invest in one of the attractive real estate growth opportunities in India. , with what we believe are attractive measures of risk and return.”Ritesh Vohra, Partner and Head of Real Estate, Investcorp India.
Investcorp Real Estate to date has invested $200 million through two funds in 26 projects. It has a well-established history in the top structured credit space within real estate, with a focus on affordable and mid-market residential projects being developed by well-established developers.
Also, active in the mid-market private equity space in India, Investcorp has invested in the consumer technology, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors.