Baring Private Equity Partners (BPEP), the global PE major, is planning its future investments in Indian real estate in the near future. For a long time now, BPEP India was looking at investing from its $650 million Baring India Private Equity Fund III. Previously, the firm has invested in information technology, healthcare and financial services sectors from its first two funds.
BPEP has been investing in India since 1998. Baring will look at residential and commercial properties in top seven cities. The foray comes at a time consolidation is taking place in the real estate PE space. Global PE firm Blackstone has taken over the management of BoA-Merril Lynch’s Asian real estate business.
Apart from consolidation, overseas property investors such as Goldman Sachs, Landas Banki and Carval have pulled out from the Indian realty market, while others such as Morgan Stanley, AIG and Wachovia have become dormant.
