Global investment firm Blackstone Group's logistics platform in India, Horizon Industrial Parks, has been chosen as the lead partner to manage the Indian government's portfolio of 13 last-mile logistics assets across the country. Horizon Industrial Parks, which is owned and managed by Blackstone Real Estate funds, has signed a 45-year partnership agreement with the Central Warehousing Corporation (CWC), a public warehouse operator established by the Government of India under the Ministry of Consumer Affairs, Food & Public Distribution. Under this agreement, Horizon Industrial Parks will redevelop the government-owned assets into modern, Grade-A facilities tailored for tenants in fast-growing sectors such as e-commerce, retail, third-party logistics, and cold chain storage. Asheesh Mohta, Head of Real Estate Acquisitions India at Blackstone, mentioned that logistics is one of Blackstone?s highest conviction investment themes globally, including in the expanding market of India. He stated that Blackstone intends to bring scale, operational expertise, and a track record of success to the partnership, aiming to work closely with the CWC to create best-in-class warehouses that provide efficient delivery solutions. Horizon Industrial Parks is expected to invest approximately Rs 7 billion in this alliance to support the growth of the portfolio. Amit Kumar Singh, Managing Director of CWC, expressed that this partnership with Blackstone, the world's largest alternative asset manager and a prominent owner of high-quality logistics globally, will help monetize their assets by transforming them into modern warehouses catering to some of India's top brands. He also emphasized their aim to achieve operational excellence and support India's rapid urbanisation. The majority of this portfolio is located in last-mile areas across Mumbai, Pune, the National Capital Region, Chennai, and Bangalore, all in close proximity to residential zones and city centres. With a development potential of 2.4 million sq ft, this is considered one of the largest last-mile logistics portfolios in India. Horizon Industrial Parks, along with its affiliates, manages 25 industrial and logistics parks spread across more than 1,700 acres, with a total area of 43 million sq ft in 10 key markets in India. Logistics is a significant asset class for Blackstone globally, as the company is the largest owner of warehousing spaces. To date, Blackstone has invested over $55 billion in this segment and owns more than 575 million sq ft of warehouse space worldwide.