365telugu.com online news,India,july 7th, 2021:CapitaLand has launched its second logistics private fund of S$400 million (INR 22.5 billion 1 ) to expand in India’s logistics sector, one of the largest globally 2 . CapitaLand India Logistics Fund II will invest in the development of logistics assets in key warehousing and manufacturing hubs in six major cities – Ahmedabad, Bangalore, Chennai, Mumbai, National Capital Region (NCR), and Pune, as well as in emerging markets such as Coimbatore, Guwahati, Jaipur, Kolkata and Lucknow. CapitaLand India Logistics Fund II will grow CapitaLand’s current total Funds Under Management (FUM) 3 of S$79.2 billion 4 across over 20 private funds and six listed trusts, further reinforcing CapitaLand’s position as one of the leading real estate fund managers in the world 5 .CapitaLand India Logistics Fund II follows the successful deployment of CapitaLand’s first logistics private fund, the S$400 million Ascendas India Logistics Programme 6 launched in 2018, to develop six logistics and industrial projects in Bangalore, Chennai, NCR, and Pune.
The six projects have a total development potential of over 12 million sq ft of space. Two of the projects are operational with 2.8 million sq ft of space that has been leased. Ascendas-Firstspace 7 manages the assets of Ascendas India Logistics Programme and CapitaLand India Logistics Fund II. Please see Annex for more information on the six logistics assets under Ascendas India Logistics Programme.Mr Jonathan Yap, President, CapitaLand Financial, CapitaLand Group, who oversees CapitaLand’s business in India, said: “The launch of CapitaLand’s second logistics fund in India is in line with the Group’s strategy to expand our fund management business to generate recurring Fee Related Earnings (FRE) 8 and grow the Group’s assets under