Land-buying hurdle hits private equity firms betting on warehousing units

The JV had an equity base of $250 million. Four years since the signing of the pact, people in the know say the JV may invest just $100 million

In 2015, US-based private equity (PE) firm Warburg Pincus and Bengaluru-based Embassy group had set up a joint venture for industrial and warehousing properties. 

The JV had an equity base of $250 million. Four years since the signing of the pact, people in the know say the JV could invest just $100 million.

Over $5 billion in funds have been committed by PE firms and pension funds such as CPPIB, Warburg Pincus, and Ivanhoe Cambridge, over the past five years. Global investors such as Morgan Stanley have made a comeback into Indian properties and bought controlling stakes in warehousing projects