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Actis acquires Rx Propellant

Actis, a global investor in sustainable infrastructure, has acquired Rx Propellant, a platform focused on providing real estate solutions (R&D labs and associated facilities) to tenants in the life sciences and related sectors in India.

Rx Propellant focuses on the life sciences real estate sector and is currently involved in the development and marketing of a number of real estate projects in design-development stage across Hyderabad and Bangalore targeted at life sciences sector users, aggregating over three million square feet.
In the initial phase, Actis is looking to invest $200 million into a buy & build program targeting both greenfield and brownfield assets with an emphasis on sustainability. Rx Propellant will focus on thriving life sciences clusters in Hyderabad, Bangalore and Mumbai.

Actis recently announced it has completed fundraising for Actis Asia Real Estate Fund 2. The $700 million total represents LP fund and co-investment commitments, with additional co-investment opportunities expected to deliver up to $1 billion of investable capital during the life of the fund.

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