CapitaLand India Trust looks to new markets as it pursues higher yields

[SINGAPORE] CapitaLand India Trust (Clint) will divest one-third of its data centre portfolio to its sponsor CapitaLand Investment, which is launching a new fund in India. 

In an interview with The Business Times, Gauri Shankar Nagabhushanam, the chief executive officer of Clint’s manager, said that four data centres in Bengaluru, Chennai, Hyderabad and Navi Mumbai will become the seed assets for the fund.

“The divestment is part of Clint’s portfolio reconstitution strategy, which will increase its financial flexibility to pursue higher-yielding opportunities,” he added. “The limited partners are conducting their due diligence and in due course, we are hopeful that the diligence will (be completed), and the transaction will go through.”