In one of the biggest fundraising plans in the logistics space, the Shapoorji Pallonji group has partnered the Abu Dhabi Investment Authority (ADIA) to raise a $1.2-billion private equity fund that will invest in logistics centres in the country, said sources in the know.
The partners will raise the fund in two tranches of $600 million each. “Shapoorji will put in $100 million and the ADIA $500 milion,” one of the sources said, adding the documentation for the fund would end soon and that Shapoorji was already looking for land parcels.
A spokesperson for the Shapoorji Pallonji group declined to