CapitaLand and Pantaloon forge India JV

A $263 million real estate fund is raised to take advantage of the explosive growth in Indian retailing.

Singapore's CapitaLand and India's Pantaloon Retail yesterday April 19 signed a joint venture agreement for operating in India. As part of the agreement CapitaLand Retail India Investments has subscribed to $75 million of the Pantaloon-backed real estate fund, Horizon Realty Fund LLC. Horizon announced the fund would have an initial closing commitment of $263 million including the CapitaLand subscription of $75 million, which represents 28.5% of the total.

The partnership between Pantaloon and CapitaLand brings...

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