With Actis acquiring Rx Propellant, plans a $200 mn investment

25 May 2022 CW Team

Actis, a global investment firm focused on private equity, energy, infrastructure, and real estate assets, has acquired Rx Propellant, a real estate solutions provider to tenants in life sciences and related sectors across India.

Actis plans to invest $200 million into a buy and build program, targeting greenfield and brownfield projects, focusing on sustainability. Rx Propellant will focus on thriving life sciences groups in cities, including Hyderabad, Bengaluru and Mumbai.

Partner and Head of real estate at Actis, Brian Chinappi, said that the life sciences sector in India is already of global strategic importance, as seen during the Covid-19 pandemic. It has restricted significant growth from local and global issues.

Recently, Actis announced that it had completed fundraising for Actis Asia Real Estate Fund 2. The $700 million funds show LP fund and co-investment commitments, with co-investment opportunities expected to deliver up to $1 billion of investable capital during the funding life period.

The fund will allocate capital to invest in the real estate sector, promoting a new economy, focusing on China, Korea, India, South-East Asia, and Vietnam.

Rx Propellant is invested in the development and marketing of several real estate projects that are in the design-development stage across Hyderabad and Bengaluru, focusing on the life sciences sector, aggregating over 3 million sq ft.

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Also read: Actis raises over $4.7 bn, plans $850 investment in India

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