IndoSpace Logistics Parks IV fundraising reaches $393m with second close led by QIA and Grosvenor

IndoSpace, an investor, developer, and operator of class A industrial and logistics real estate in India, has completed its second round of fundraising for IndoSpace Logistics Parks IV (ILP IV), securing an additional $150 million in investment. The round was led by the Qatar Investment Authority (QIA) and Grosvenor’s Diversified Property Investments business.

Following the initial close of $243 million, this second round of funding increases the fund size to $393 million and demonstrates the continued confidence and support from global investors in IndoSpace’s advanced approach to industrial real estate development in India.

QIA and Grosvenor’s participation in this round reflects the attractive opportunity to develop modern grade A industrial and logistic parks in the world’s fastest-growing large economy. The funds raised in this round will continue to advance IndoSpace’s mission of developing state-of-the-art industrial and logistics parks across the top eight markets in India.

ILP IV will add an additional 25 million to 30 million square feet to the IndoSpace portfolio. ILP IV will focus on India’s largest logistics real estate markets: Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune. The establishment of ILP IV follows on from the first three development funds, which have a combined total of 58 million square feet of modern logistics real estate in India completed and under development.