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.