Singapore-based Xander Investment Management Pte. Ltd. established a US$250 million industrial real estate fund for the acquisition of logistics and e-commerce assets across major cities in India, Mint reported Oct. 15.
According to the report, the The Xander Group Inc.-sponsored platform secured capital from leading European investors that used to be limited partners in Xander's sponsored opportunity funds.
The establishment of the fund follows Xander's US$130-million purchase of the 1.1 million square meter Weikfield IT Citi Info office park in Pune, India, from New Vernon Capital Fund, L.P. in August.
Xander Group's senior partner Rohan Sikri said that they have been investing opportunistically in the industrial and logistics sector since 2007.