GIC, Warburg-backed ESR form $750 million India warehousing JV

GIC Pte Limited and ESR Cayman Limited have formed a JV to develop and acquire industrial and logistics assets in India. GIC will hold an 80 per cent stake in the JV and ESR, an Asia Pacific-focused logistics real estate platform backed by private equity firm Warburg Pincus, will own 20 per cent. The JV will have a capital pool of $750 million. The JV will develop and acquire industrial and logistics facilities in Tier 1 and Tier 2 cities across India.

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