PE firms, partners build teams for mall buyouts

Global investors display growing interest in Indian retail growth story

Mall companies floated or backed by private equity (PE) entities are building new teams for buying malls and managing these.

According to sources, the subsidiary of Phoenix Mills, where Canadian pension fund manager CPPIB is taking stake (the company which is said to be a front for the duo to acquire or build new malls), has started hiring in full swing. And, wants a head of marketing and leasing and chief operating officer.

“They have to hire at least 50-60 people in the new company if they have to compete with the likes of Blackstone,” said a senor executive, who