Qatar fund QIA to invest $300 million in realtor RMZ in one of largest investment deals - The Economic Times

Qatar fund QIA to invest $300 million in realtor RMZ in one of largest investment deals - The Economic Times:

"In one of the largest investment deals in the Indian real estate sector, sovereign wealth fund Qatar Investment Authority (QIA) is investing $300 million ( Rs 1,800 crore) in Bangalore-based real estate developer and South India's largest office space builder RMZ Corp, said three people with direct knowledge of the development.

"The deal is in advance stage. QIA has committed to give money, and it will be based on project requirements. The investment will be equally split into a combination of equity and debt," said the first person.

The money will come into the same special purpose vehicle (SPV) where private equity fund Baring Private Equity Partners (BPEP) had invested 500 crore last year. BPEP has a 28% stake in the SPV, which is a group company of RMZ, while the rest is held by the builder. In 2012, BPEP backed the builder to buy 50-acre or 6 million sq ft space for office development in Bangalore. "

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