Actis Acquires Indian Life Sciences Real Estate Services Company Rx Propellant | News

Actis has purchased a life sciences real estate services company in India and plans to invest $200m (€187.7m) to target assets in the country.

The global investor said it purchased Rx Propellant, a platform focused on providing real estate solutions to tenants in the life sciences and related sectors in India.

Rx Propellant is currently involved in the development and commercialization of a number of development-stage property projects in Hyderabad and Bangalore.

Actis said it would initially invest $200 million in a buy-and-build program targeting both greenfield and brownfield assets.

Brian Chinappi, Partner and Global Head of Real Estate at Actis, said: “India’s life sciences sector is already of global strategic importance, as demonstrated by the Covid-19 pandemic. It is poised for significant growth, due to the confluence of several factors, both local and global.

“We are excited to invest in a team that has deep domain expertise and, when combined with Actis’ experience in building sustainability leaders, has the potential to deliver a leading business on the market.”

Ashish Singh, Partner and Head of Real Estate India and South East Asia at Actis, said, “Companies in the life sciences industry have unique requirements and often need bespoke real estate solutions whose supply is insufficient.

“Rx Propellant’s management team, with over a decade of experience in the field, seeks to bridge this gap and support India-bound drug discovery and manufacturing programs by providing solutions personalized real estate.”

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