Mirae Asset Global Investments India announced on September 6 that it has completed its investment in a large distribution center of approximately 46,450 square meters in Mumbai.
This is the second deal for Mirae Asset Global Investments, which is the first foreign asset manager to enter India, after directly investing in a logistics center in the Bhiwandi area for approximately KRW 21 billion in January this year.
The second logistics center invested by Mirae Asset Global Investments India, worth approximately KRW 28 billion, is the Amazon Fulfillment Logistics Center. It is one of the two Amazon fulfillment centers in the Mumbai region and is considered a key logistics center for AMAZON, the number one global e-commerce company in India.
Bhiwandi is a key logistics hub on the outskirts of Mumbai and is home to many of the world's largest companies.
This investment will bring Mirae Asset Global Investments India's total investment in Bhiwandi to approximately 75,000 square meters.
"Given India's rapid economic growth, the demand for warehousing centers will only increase," said a representative from Mirae Asset Global Investments India. "We will continue to strengthen our position as a key investor in the warehousing market in India and continue to focus on commercial real estate outside of warehousing centers in key CBD areas."
Meanwhile, Mirae Asset Global Investments India, which was incorporated in Mumbai in 2006 and launched its first fund in 2008, has grown to become the ninth-largest manager in the country in 15 years, with net assets under management (AUM) of $2.3 trillion as of the end of August.
It is currently the only independent foreign capital manager in the country, and has expanded its business beyond fund management and advisory to diversify and increase its expertise.
In 2019, the firm received approval from the Securities and Exchange Board of India to convert to an investment holding company, expanding its business to include non-banking financial companies (NBFCs) and venture capital (VCs).
