 "Phoenix MarketCity")
Canada Pension Plan Investment Board (CPPIB) and The Phoenix Mills Limited (PML), India’s largest mall developer, on Wednesday said they have formed a strategic investment platform to develop, own and operate retail-led mixed-use developments across the country.
Island Star Mall Developers Pvt Ltd (ISMDPL), a PML subsidiary that owns Phoenix MarketCity in Bengaluru, will serve as the platform.
CPPIB, Canada’s largest pension fund manager, will initially own 30 per cent of the platform with an equity commitment of around Rs 724 crore.
CPPIB plans to invest around Rs 1,600 crore, in multiple tranches, to own up to a 49
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