Private equity firm PAG invests Rs 425 crore in realty firm Elan group

Private equity firm PAG invests Rs 425 crore in realty firm Elan group

Global Alternative Investment Firm PAG has invested over $50 million (about Rs 425 crore) in Gurugram based real estate developer Elan Limited, a group company of Elan group.

The investment will be used towards Growth Capital for their upcoming projects, the company said.

“This deal assumes great significance for the Elan Group with a global fund like PAG reposing confidence in the group’s management and established development track,” said Sandeep Agarwal, CFO, Elan Group.

Cushman & Wakefield was the transaction advisor for the deal.

“The traction in the credit space in NCR market reflects our continued belief in the region’s real estate growth story with Dwarka Expressway fast emerging as NCR’s most sought-after micro market”, said Saurabh Shatdal, Managing Director, Land & Capital Markets, Cushman & Wakefield.

Elan Group, promoted by Director Akash Kapoor and Chairman Rakesh Kapoor and Managing Director Ravish Kapoor, is an established NCR based developer with 12 projects across prime locations in Gurugram and New Delhi having a total saleable area of approximately 15 million sq ft.

Elan Group is scaling their existing portfolio of retail and commercial assets and is entering the Hi-end and premium residential segment through their recent acquisition of a 40 acres land parcel in Sector 106, Dwarka Expressway, Gurugram from

.

Elan Group has also recently acquired another prime commercial land parcel of 7.65 acres from Ambience Group in Sector 82, Gurugram.

PAG is one of the largest Asia-focused Investment Fund, with strategies including private equity, private debt, real estate and hedge funds. Asia Pragati, which is an offshoot of the Hong Kong based PAG has been actively investing in India real estate over the last two years with recent investments in

Group, Shapoorji Pallonji Group and Phoenix Developers among others.

Source link

Related post

Why I Use Electrum Bitcoin Wallet – Bitcoin Magazine

Why I Use Electrum Bitcoin Wallet – Bitcoin Magazine

This is an opinion editorial by Arman The Parman, a Bitcoin educator passionate about privacy. Over many years, I have tinkered…
Casa Ruby founder diverted funds to herself, DC attorney general alleges

Casa Ruby founder diverted funds to herself, DC attorney…

Comment on this story Comment The founder of a nonprofit serving D.C.’s LGBT community diverted hundreds of thousands dollars meant for…
Two Criminals Jailed for Stealing From Bitcoin Investors in Dubai (Report)

Two Criminals Jailed for Stealing From Bitcoin Investors in…

Two robbers reportedly deceived an Asian investor and his friend with a fake bitcoin scheme and stole nearly $50,000, three phones,…

Leave a Reply

Your email address will not be published.