For its first India deal, Allianz to partner Shapoorji Pallonji; German insurer eyes $5 bn investment

Allianz partners Pallonji for its first India deal German insurer Allianz is close to striking a deal with construction player Shapoorji Pallonji for approximately $400 million (R2,670 crore), three people familiar with the development confirmed to FE, reports Priyanka Ghosh in Mumbai. Allianz is looking to invest as much as $5 billion in India’s real estate space and a deal with Shapoorji Pallonji would mark its first investment here.

The funds are likely to be routed via Shapoorji Pallonji Investment Advisors, the private equity (PE) arm of the construction group, in what is a platform investment and invested in Grade A, income-generating assets. An email sent to Allianz remained unanswered till the time of going to press. Shapoorji Pallonji declined to comment on the story.

A host of global funds like Canada Pension Plan Investment Board (CPPIB), Blackstone, Qatar Investment Authority (QIA), GIC, Abu Dhabi Investment Authority (ADIA) and Dutch pension fund APG have been building up portfolios of commercial properties for about five years now, either through individual transactions or by partnering with domestic funds and companies.


Read more: The Financial Express