 "Altico Capital")
Private equity-backed Altico Capital has forayed into warehousing segment by lending Rs 6.5 billion to Mumbai-based Renaissance Group.
The debt funding will be used in Renaissance Industrial Smart City, an ongoing project in Bhiwandi having a development potential of 20 million square feet across warehousing and industrial space.
The deal includes Rs 500-million co-investment from Asia-focused private equity fund and Altico’s founding shareholder Clearwater Capital (now Fiera Capital).
More than 3 million sq ft of warehousing space in the project has been committed to marquee tenants, including a leading global e-commerce player.
Sanjay Grewal, chief executive officer of Altico Capital, said: “The sector is
