Ivanhoe Cambridge forms $180m JV with Embassy Group
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.