“It started the fund raising a couple of months back and plans to close the fund by July,” said the sources.
A public relations executive for Actis declined to comment on specific fundraising initiatives.
StanChart’s real estate
portfolio is spread across India, China, South Korea and Southeast Asia.
Standard Chartered’s Asia realty portfolio has three joint ventures in India — with Tata Realty & Infrastructure for buying commercial assets, Mahindra LifeSpaces for residential projects. The Shapoorji Pallonji group for affordable housing.
According to sources, Actis has fairly successful investments in energy, infrastructure, general PE, real estate and so on. “They have successful investments in Africa and are now looking to do investments in Asia. They are looking at real estate as a big growth area,” said one.
* Actis signed agreement with StanChart to buy latter's Asia realty portfolio for $ 750 mn
* Standard Chartered PE's real estate team is set to join Actis
* Titled as 'Actis Asia Real Estate Fund 1,' Actis is raising the fund from institutional investors
* Actis started fundraising a couple of months ago and plans to close the fund by July
* Standard Chartered’s real estate portfolio is spread across India, China, South Korea and Southeast Asia
* StanC has three JVs - with Tata Realty & Infrastructure, Mahindra LifeSpaces and Shapoorji Pallonji
Actis has invested around $7.8 bn and realised $9.3 bn from 160 full and partial exits. Funds managed by Actis have made around 200 investments across our chosen consumer good, energy, financial services, health care, industrials and real estate.
In 2016, it raised a $500-million African real estate fund. This February, it sold 79.5 per cent majority stake in Mentor Management, a Kenyan project management company, to Turner & Townsend, a global construction and management consultant.