Everstone Capital, the private equity arm of Future Group plans to raise $350 Mn for a new fund to invest in warehouses in India.

Everstone manages $1.5 bn across various funds. It wants to raise another fund to invest in developing industrial real estate and warehousing facilities as India’s government changes the current regional tax structure, which has led to delays in the movement of products, in favor of a goods and services tax regime.

With the country moving from regional and state levies to a central goods and services tax, the need for regional warehouses in every state will be greatly reduced and companies will move to large central warehouses and distribution centers. 

Faering Capital- a fund founded by Aditya Parekh- has raised Rs 750 Cr from the domestic market.

The investors are largely local banks and financial institutions.

Faering Capital fund will look to invest in mid-cap firms, with an average deal size of Rs30-80 Cr.