Real estate-focussed investment firm Xander Group Inc. is seeking to set up a logistics platform in India, a media report said.
Citing two people directly aware of the discussions, Mint said that Xander is in talks with potential investors for the planned platform.
Xander's plan come at a time when a number of domestic and overseas companies as well as private equity giants have shown interest in India's logistics sector.
In November, for instance, ESR Group, an Asian logistics real estate developer backed by private equity firm Warburg Pincus, and Germany’s Allianz decided to set up a $1 billion platform to invest in India’s logistics sector.
Two months earlier, Singapore-headquartered logistics facilities provider GLP entered India in a partnership with Mumbai-based industrial real estate developer IndoSpace.
The size of India’s logistics industry is projected to increased from around $160 billion to $215 billion in the next three years with the implementation of the goods and services tax, according to the government's Economic Survey 2017-18.
Xander Group focuses on emerging markets. Since 2005, the firm has committed more than $3 billion to India across private, public, credit and venture investments. It has acquired or developed real estate across the office, retail, industrial, hospitality, warehousing and residential segments.
Xander has a tie-up with Dutch pension fund manager APG for its retail platform Virtuous Retail South Asia Pte Ltd. In October 2018, VCCircle reported that Xander was set to invest $350 million to acquire office buildings in Hyderabad.