Investors - FEBRUARY 18, 2021

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Ivanhoe Cambridge forms $180m JV with Embassy Group

by Andrea Zander

Ivanhoe Cambridge, a real estate subsidiary of Canada’s second-largest pension fund, and Embassy Group have formed a $180 million joint venture, according to media outlets, citing people familiar with the matter.

It is an 80-20 joint venture platform with a development timeline of five years. Ivanhoe Cambridge will put in $150 million, while Embassy will invest $30 million.

The alternative investment fund will develop greenfield office projects across cities, specifically in Bengaluru.

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