Shapoorji, ADIA tie up for $1.2-billion fund to invest in logistics centres.

In one of the biggest fundraising plans in the logistics space, the Shapoorji Pallonji group has partnered the Abu Dhabi Investment Authority (ADIA) to raise a $1.2-billion private equity fund that will invest in logistics centres in the country, said sources in the know.

The partners will raise the fund in two tranches of $600 million each. “Shapoorji will put in $100 million and the ADIA $500 milion,” one of the sources said, adding the documentation for the fund would end soon and that Shapoorji was already looking for land parcels. 

BS