Realty play: Qatar wealth fund, Baring to exit RMZ

QIA and Baring hold 24 per cent and 21 per cent, respectively, in the office space developer

Qatar’s sovereign fund Qatar Investment Authority (QIA) and Baring Private Equity Partners India are looking to exit Bengaluru-based property developer RMZ, said sources in the know.

These are the largest exits planned by the investors in a real estate company. While RMZ is buying back the stake held by QIA, Baring is looking to sell its stake to other investors through “price discovery”, sources said. QIA, which has assets of $335 billion globally, invested Rs 600 crore in RMZ in 2013 sand owns 24 per cent stake. Baring had invested Rs 450 crore in 2012 and has 21 per cent stake