Inno Group Holdings, the global investment firm focused on real estate with operations in Europe, West Asia and India, has set sight on logistics sector in the country. The private investment group will be floating a logistics private equity (PE) fund with an initial corpus of $50 million for mobilising investments for developing logistics facilities. The group has started the process of deliberations with well-known logistics service providers across Belgium and the Netherlands.
Rajamannar Ramaswamy, group managing director, Inno Group Holdings told FE the group would set up a logistics park in Chennai once the logistics service providers agree to take up the task of providing logistics solutions on a long-term basis. ?We need to get the agreements signed by four or five logistics service providers for at least 15 years and once that happens, we can acquire land and build the logistic parks.?
Ramaswamy said the fund Inno India Infrastructure and Logistics Opportunity Fund (IIILOF) would be an India focused fund, which would invest in value-added logistic parks with predetermined tenants. The feasibility and identification studies by logistics experts have been commissioned and negotiations with European logistics developers and service providers are on. The fund is expected to be launched in the third quarter of the current financial year. ?We would be able to step into the logistic domain by mid 2012, after completing all the required requirements?, he said.
Inno has four major divisions – Inno Investments, Inno Advisory, Inno Real Estate and Inno Infrastructure.