Blackstone Picks Banks for $1 Billion India REIT
- Embassy-Blackstone offer will be India’s first ever REIT
- Blackstone is the largest owner of office space in India
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Blackstone Group LP, the world’s largest alternative asset manager, has picked banks for India’s first real estate investment trust listing, people with knowledge of the matter said.
The U.S. company and local partner Embassy Group selected firms including Bank of America Corp., Morgan Stanley, Kotak Mahindra Bank Ltd. and JPMorgan Chase & Co., said the people. The REIT listing would raise about $1 billion, the people said, asking not to be identified because the information is private.