Tata Group pegs retail real estate fund at $1 billion
Tata Group, which joined with private equity firm Xander Group through its group company Trent in April, has outlined plans to raise $1 billion for an institutional retail real estate fund.
Xanda will invest in the development of an institutional retail real estate portfolio in India in partnership with high-quality Indian developers.
Trent will have anchor tenancy rights and will participate with Xander in the management of such a portfolio and its growth. This recent move by Tata mirrors the actions of other big retail players, such as Future Group, which controls retail company Pantaloon Retail, and has floated two real estate funds specifically for the retail sector.