By Sneh Susmit
This round also saw the exit of Accion’s Frontier Investment Group and Saama Capital.
Agarwal’s exit from JLL is the second exit of a key executive after Santhosh Kumar, former CEO-operations left the firm to join Anarock Property Consultants.
It is raising a similar $500 million fund from domestic investors. IIFL Asset Management, an arm of IIFL Investment Managers, expects to close its domestic fund by the end of the financial year.
The office property, WaveRock, is an equal joint venture between GIC and Tishman Speyer, spread over 2.5 million sq. ft in the Gachibowli financial district of Hyderabad.
The portfolio for sale consists of four hotels in Phuket and one each in Bangkok, Hua Hin and Koh Samui, with an indicative price of $230,000 per key.
Both PNB and EPF, directly and indirectly, already own 70% of the Battersea Power Station project.
The sale would be part of a wave of disposals Wanda has signed in recent months to raise money.
Forum Group is also in talks with Blackstone to sell stake in more of its retail projects.
This will be invested alongside Rs150 crore of domestic money, across multiple projects this year.
The projects are expected to together generate revenues of around Rs 1,000 crore.