BlackSoil Backs Walton Street Capital’s India Team To Acquire Walton Street India’s Realty Debt Business
BlackSoil and the former India-based management team of U.S. real estate investment adviser Walton Street Capital, L.L.C. announced that they are joining forces to acquire Walton Street India’s real estate debt business. The India management team is led by Kaushik Desai, Vinit Prabhugaonkar and Vimal Jangla and had advised affiliates of Walton Street Capital on India-based equity and debt transactions totalling approximately USD 300 mn for more than 12 years prior to the buyout. Walton Street Capital has real estate and real estate-related assets under management of approximately USD 12 bn and began operations in India in 2007. Walton Street Capital’s equity investments in India were not part of the transaction. BlackSoil and India-based affiliates of Walton Street Capital began co-investing in Indian real estate debt opportunities in 2015 and Walton Street India later became the investment advisor to BlackSoil in connection with the approximately INR 320 crores Walton Street BlackSoil Real Estate Debt Fund I. The Fund was fully deployed across ten investments in the key metros of Bengaluru, Hyderabad and Mumbai. “Our India team was the obvious choice to continue to carry on our Indian real estate debt business. We worked side by side with them for many years to develop the business, and we are happy to see them acquire it with the support of BlackSoil. Kaushik, Vinit and Vimal are talented real estate professionals and we are pleased to see them take up this opportunity with BlackSoil, with whom we have enjoyed a productive and collaborative relationship for the past 6 years,” said Eric C. Mogentale and Jeffrey S. Quicksilver, Managing Principals and Co-Founders of Walton Street Capital in a joint statement. “Our relationship/association with Walton Street Capital and its affiliates over the last 6 years has been extremely fruitful. We have enjoyed working with their India management team and have appreciated their professionalism and rigour in advising us on the debt platform. We are excited to embark on this new chapter with them,” said Mohinder Pal Bansal, co-founder of BlackSoil. “The journey with Walton Street Capital over the last decade has been a truly enriching experience for us and we greatly appreciate the guidance we received from them. We look forward to growing our business and strengthening our partnership with BlackSoil in the years ahead,” said the India management team in a joint statement.
Tags : News/Views Walton Street India Acquire BlackSoil Walton Street Capital India Team Realty Debt Business