Axis arm ties up with Tishman Speyer for realty development

27 Jul 2022 CW Team

Axis Asset Management Company, promoted by Axis Bank, has entered into a strategic partnership with global real estate developer, owner and operator Tishman Speyer to invest and develop commercial properties across key cities in India. Through this first ever alliance between an Indian fund house and an international real estate major, Axis Asset Management Company is raising up to Rs 15 billion, including a green-shoe option, while Tishman Speyer will act as the exclusive development manager for the platform.

The fund, Axis Commercial Real Estate Fund, will be a category II alternative investment fund that will see both Axis and Tishman Speyer co-invest up to 10% of the fund size. The joint platform will invest in early stage or greenfield commercial real estate projects across the Mumbai Metropolitan Region, Bangalore, Hyderabad, Pune, the Delhi National Capital Region, Chennai and Kolkata.

“This platform once again showcases Axis AMC as an asset manager that has been at the forefront of product innovation, offering quality long-term solutions to our investors,” said Amitabh Chaudhry, managing director and chief executive of Axis Bank. “Together Tishman and Axis will produce the next generation of high-quality office environments for local and global companies operating in India,” said Rob Speyer, chief executive of Tishman Speyer.

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