IFC to invest $75m in Indospace Logistics
International Finance Corporation (IFC), the investment arm of the World Bank, is planning to invest approximately $75 million in Indospace Logistics Parks III, a $580 million vintage fund for developing logistics and industrial parks across India, according to media outlets.
The fund is managed by Indospace Capital Asia Pte Limited and its Indian affiliate, Indospace Capital Advisors Private Ltd.
It develops and operates warehousing and industrial property assets in India through various special-purpose vehicles (SPVs). These SPVs are indirectly owned by Indospace Logistics Parks III, a Singapore-based limited partnership managed by Indospace Capital Asia Pte Limited.
IFC’s investment would be in the form of straight loans of up to $75 million to various SPVs that own and operate the industrial and warehousing properties.
IFC anticipates that its commitment will provide a significant positive step forward to the Indian warehousing and industrial proper