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Brookfield to invest £342m in Indian IT parks

27 Jun 2014

unitechPrivate equity firm Brookfield Asset Management has agreed to buy a string of tech-focused real estate sites in India by picking up Unitech holding company Candor in a £205.9m deal.

Brookfield will take over Candor’s 60 per cent share in five special economic zones and one IT park, including InfoSpace Gurgaon G1-ITC, InfoSpace Gurgaon G2-IST and InfoSpace Kolkata K1, according to a filing with the London Stock Exchange.

The firm has also signed a deal worth about £136.1m to buy Indian real estate firm Unitech’s 40 per cent stake in four of the six assets, making it their sole owner according to sources speaking to the Economic Times.

The Toronto-based private equity, real estate and infrastructure investment firm held a final close of $7bn for its latest infrastructure fund in November 2013, more than doubling its initial target by $2bn.

The fund received commitments from various institutional investors including sovereign wealth funds, insurers, and public and private pension plans.

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