GIC, ADIA reportedly in talks for $4.5b India deal with Blackstone

Sovereign wealth funds including Singapore’s GIC and Abu Dhabi Investment Authority (ADIA) along with two Canada-based pension funds are in talks to acquire Blackstone Group’s 50 percent stake in two separate commercial portfolios of Panchshil Realty and Salarpuria Sattva Group for approximately $4.5 billion, reported The Economic Times, citing  persons with direct knowledge of the development.

The Canada Pension Plan Investment Board (CPP Investments) and The Ontario Municipal Employees Retirement System (OMERS) are the pension funds that have evinced interest in picking up the stake in this commercial real estate portfolio spread across a total 26 million square feet in India.

After the deal Blackstone will continue to hold other assets jointly with Panchshil Real