New York developer and fund manager, Tishman Speyer has bought out Indian private equity firm ICICI Venture’s stake in a joint venture property company focussed on Indian real estate.
ICICI Venture confirmed it would sell the 50 percent stake in TSI Ventures India, according to a report on Reuters.
Tishman Speyer and ICICI Venture are remaining equity partners in TSI's three current projects.
“Both companies remain open to investing together in Indian real estate in the future,” the company is reported to have said.
TSI Ventures was set up in 2005 to target opportunities in the burgeoning Indian real estate market.