CPPIB invests $185 mln more in Indian shopping mall vehicle
Canada Pension Plan Investment Board (CPPIB) has invested $185 million in Island Star Mall Developers Pvt Ltd (ISMDPL), an Indian retail development investment platform co-owned with Mumbai's The Phoenix Mills Ltd. The deployment, which adds to one made a year ago, brings CPPIB's total investment in ISMDPL to $328 million, giving the pension system a 49 percent stake. The additional funding will allow the platform to undertake new developments and acquisitions, creating new retail-led mixed-use assets. ISMDPL's debut acquisition in Pune, India was made last August.
10 April 2018•4 mins read
