Xander’s Joint Venture With APG to Invest $450 Million in Retail Assets

Shearman & Sterling advised The Xander Group Inc. (Xander) on the establishment of a joint venture with APG Strategic Real Estate Pool N.V. (APG) for investment in retail developments in India and the related US$300 million acquisition by the joint venture company Virtuous Retail South Asia Pte. Ltd. (Virtuous Retail) of an initial portfolio of three retail assets from a Xander-sponsored fund.

APG and Xander have also committed an additional US$150 million, which will be used to expand the investment portfolio of Virtuous Retail.

Xander is a global investment firm focused on real estate, infrastructure, hospitality, retail and credit in the emerging markets. Since 2005, the firm has committed over US$2.3 billion of capital to the Indian market across private, public, credit and venture investments.

The Shearman & Sterling team included partner Sidharth Bhasin (Picture) (Singapore-Mergers & Acquisitions); and associates Nick Withers (London-Mergers & Acquisitions) and Matthew Sherman (Singapore-Mergers & Acquisitions).

Involved fees earner: Sidharth Bhasin – Shearman & Sterling; Nick Withers – Shearman & Sterling; Matthew Sherman – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Xander Group Inc.;


Author: Michael Patrini