The private equity units of JP Morgan, IL&FS and Morgan Stanley are considering committing $125 million to Shriram Properties, Times of India reports. The investment will be used to refinance the Bangalore-based real estate company’s projects under development and acquire distressed property assets.
Shriram Properties is the real estate unit of Shriram Group, but its main shareholders are TPG, Starwood and Walton Street Capital. These three investors hold more than a 40% stake in the Indian developer.
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