Goldman may fund Century SPV

Printer Print Email Email
Bangalore: Goldman Sachs may invest around $200 million (Rs 800 crore) in Bangalore based real estate player Century Group. Sources close to the development said that the investment banking and securities firm is in advanced discussions and an announcement to this effect is expected shortly, reported The Economic Times.

The real estate fund of Goldman Sachs is seen infusing liquidity into a special purpose vehicle (SPV) for commercially developing over 300 acre of land parcel near Yelahanka in north Bangalore, which is in close proximity to the upcoming international airport.

Goldman Sachs has identified real estate and infrastructure as the key sectors for investment and has committed investments worth over $2 billion in India. When contacted, Century Group said, "No funding plan has been finalized yet. We will let you know once there is a development."

Apart from Dayanand Pai led Century Group, which is arguably the biggest aggregator of land in and around Bangalore over the last 25 years, Goldman Sachs is also investing in the Peninsula Realty Fund (PRF) promoted by Ashok Piramal group.

SPOTLIGHT
Gadgets
Google Pixel and OnePlus smartphones are catching up and giving stiff competition to Samsu..
Business
The Pentagon has selected Microsoft and Amazon Web Services (AWS, the cloud computing arm ..
Enterprise IT
Taking on streaming giants like Netflix and Hulu, Walt Disney Co. has announced it will laun..
Entertainment
"Game of Thrones" author George R.R. Martin doesn't want season eight to be the final chapter of "..
Technology
Facebook-owned messaging app WhatsApp is still developing its previously announced "Vacatio..
Career
Wiley, a global leader in research and education has announced a series of blended learning progr..
US Indian
Facebook-owned photo messaging app Instagram has launched the beta version of its in-app sh..
Finance
The Reserve Bank of India injected a total liquidity of Rs 2.98 lakh crore in the market in 20..
Startup City
Youth are leading India's start-up ecosystem where the median age of founder-entrepreneurs..