The Canada Pension Plan Investment Board (CPPIB) has invested in Island Star Mall Developers, a strategic investment platform to develop, own and operate retail-led mixed-use developments across India.
Island Star Mall is a subsidiary of The Phoenix Mills and owns and operates the Phoenix MarketCity retail mall in Bengaluru.
CPPIB will initially own 30% of the platform and plans to make an aggregate investment of approximately US$247 million to own up to a 49% stake in the platform.
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