New York-based fund, Berggruen Holdings, which manages proprietary capital worth over $1.5 billion, plans to invest over $300 million in India over the next three years in hospitality, real estate, education, car rental, construction equipment leasing and logistics businesses.
Of this, the bulk—around $200 million—would go into real estate projects spread across commercial, residential and retail spaces, while the remaining would be for setting up 40 budget hotels across the country. The fund also made a foray into equipment rental business by picking up around 90% stake in a Mumbai-based company for around $10 million. It also invested a similar amount for its car rental business.
Berggruen Holdings is a private company, with interests in private equity, stocks and bonds, hedge funds, art and real estate, which manages funds of the Berggruen family,.
Read more in The Economic Times article.
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