<article>Real estate developer <a style="color: #000080;" href="http://dealstreetasia.com/tag/rmz" target="_blank" rel="noopener noreferrer">RMZ</a> is in talks with <a style="color: #000080;" href="http://dealstreetasia.com/tag/cppib" target="_blank" rel="noopener noreferrer">Canadian Pension Plan Investment Board (CPPIB)</a> and existing shareholder <a style="color: #000080;" href="http://dealstreetasia.com/tag/qatar-investment" target="_blank" rel="noopener noreferrer">Qatar Investment Authority</a> to raise about $1 billion, according to a Times of India <a style="color: #000080;" href="http://timesofindia.indiatimes.com/business/india-business/office-space-firm-rmz-taps-qatar-canada-fund-for-1bn/articleshow/59870973.cms" target="_blank" rel="noopener noreferrer">report</a>.</article>

Real estate developer <a style="color: #000080;" href="http://dealstreetasia.com/tag/rmz" target="_blank" rel="noopener noreferrer">RMZ</a> is in talks with <a style="color: #000080;" href="http://dealstreetasia.com/tag/cppib" target="_blank" rel="noopener noreferrer">Canadian Pension Plan Investment Board (CPPIB)</a> and existing shareholder <a style="color: #000080;" href="http://dealstreetasia.com/tag/qatar-investment" target="_blank" rel="noopener noreferrer">Qatar Investment Authority</a> to raise about $1 billion, according to a Times of India <a style="color: #000080;" href="http://timesofindia.indiatimes.com/business/india-business/office-space-firm-rmz-taps-qatar-canada-fund-for-1bn/articleshow/59870973.cms" target="_blank" rel="noopener noreferrer">report</a>.
The fund raise is targeted at helping the Bengaluru-based group to expand its asset portfolio through acquisitions.
The Canadian pension fund manager already has two separate joint ventures with the <a style="color: #000080;" href="http://dealstreetasia.com/tag/shapoorji-pallonji" target="_blank" rel="noopener noreferrer">Shapoorji Pallonji Group</a> for investing in rental yield assets, and one with the Ajay Piramal group to provide debt to developers.
&#8220;Overall, we plan to raise $900 million to $1 billion in equity infusion to fuel our growth,&#8221; RMZ MD (executive management) Thirumal Govindraj told the news paper.
RMZ is already backed by sovereign wealth fund Qatar Investment Authority, which invested around $300 million in the company in 2013.
Govindraj further said that RMZ plans to increase its office rental business to 60 million sq ft in the next five years, from 21 million sq ft currently.
RMZ has spent over $1 billion to acquire business parks in Mumbai (from Essar), Gurgaon (from BPTP) and Hyderabad (50% in the unit of MyHome Industries) in the past one year. The recent and ongoing acquisitions alone will add about 15 million sq ft to the RMZ portfolio, Govindraj said.
RMZ Infotech (RIPL), which owns the operational business parks, is 50 per cent owned by the promoter Menda family and the remaining equally split between Qatar Investment Authority and<a style="color: #000080;" href="http://dealstreetasia.com/tag/baring" target="_blank" rel="noopener noreferrer"> Baring Private Equity Partners India</a>. According to the news report, the Menda family could rejig its shareholding in the company by either buying back Baring&#8217;s stake or replacing them with the new investor.
The report further said that CPPIB may looking at  investing in the existing structure of RIPL or a new company being created to own and develop the upcoming business parks.
According to other media reports, RMZ Corp is also in the process of floating its initial public offering (IPO) for its planned real estate investment trust (REIT) which could see the developer raise more than Rs2,000 crore.
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Real estate developer RMZ is in talks with CPPIB and existing shareholder Qatar Investment Authority to raise about $1 billion.

India: RMZ in talks with CPPIB, Qatar Investment Authority to raise $1b

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India: RMZ in talks with CPPIB, Qatar Investment Authority to raise $1b

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