Structured
investment in Express Towers, a landmark building in southern Mumbai owned by Indian
Express Newspapers Mumbai Ltd. The deal is structured such that the Fund will eventually
have a 49% stake in this building. Express Towers is located in a very prime location
(Nariman Point in southern Mumbai) and has high quality existing tenants. This investment
is expected to provide diversification for the Fund and access to a premium yield-based
real estate asset in Mumbai.
