Indian arm of the US-based private equity firm, Walton Street Capital, is planning a $1 billion real estate fund for India. The final close will probably be by March next year, with the first closing expected within the next couple of months, according to this report. Walton Street Capital India is planning to invest now in the affordable housing segment.
Last year Walton Street had picked up 33% in a Rs 5,000 crore ($1.2 billion) integrated township project in Kolkota being developed by Shriram Properties. Though Walton entered the Indian markets one-and-a-half years ago, this will be its first India dedicated fund. Globally Walton Street has commitments of approximately $3 billion of equity in approximately 150 separate transactions. It also has a presence in Mexico.
US-based realty investment funds are increasing their focus in India. Recently New York-based Vornado Realty Trust partnered with RIL to launch $500 million fund to acquire, develop and operate retail shopping centers across key cities in India. Apollo’s real estate division also runs a real estate fund, the $630 million Sun-Apollo Ventures, which it runs with Delhi-based Sun group. Others like Blackstone Real Estate Partners and Starwood Capital Group also have a presence in India.