Xander, an institutional investment firm, plans to invest $500 million (about 3,315.67 crore) in sectors such as infrastructure, hospitality and residential projects in India.
Xander JV Fund II LLC (Xander Office Platform) will raise $20 million (Rs 132.62 crore) from International Finance Corporation (IFC) in the form of equity of $70 million (Rs 464.19 crore) as debt.
Xander’s India investment programme was founded in 2005 and has 45 employees across offices in Singapore, London, Mauritius, New Delhi, Mumbai, Bengaluru and Chennai.
IFC proposes to invest equity of up to $20 million and debt of up to $70 million to finance the project, according to the Corporation’s disclosure.
Xander’s investments for this platform will be located primarily in urbanising cities, including Mumbai, Bengaluru, Delhi-NCR, Chennai, Pune and Hyderabad.
The proposed project is expected to improve and facilitate access to good quality office properties for both domestic and multi-national companies.
The proposed project, a co-investment of equity and debt, will support the platform in the acquisition and improvement of office/industrial parks in India.
“IFC's product will allow Xander the flexibility to acquire assets expeditiously and effectively with an availability period for the fund to deploy its capital for strategic acquisitions. IFC's debt will be in the form of a portfolio level facility, which is aimed at reducing the administrative burden associated with multiple loans for individual assets,” said the World Bank’s investment arm.