Hyderabad, Telangana - India - July 7, ANI/PRNewswire : Ivanhoe Cambridge, a global real estate subsidiary of the Caisse de depot et placement du Quebec,, one of Canada's leading institutional fund managers alongside Lighthouse Canton - the existing asset manager with a track record of managing the portfolio, announced its investment in a 0.85M sq.ft life science R&D office-labs portfolio in Genome Valley, Hyderabad.The MN Park portfolio will receive investment from Ivanhoe Cambridge and Lighthouse Canton in an 80:20 ratio, respectively. The initial focus will be on consolidating the portfolio with select value accretive acquisitions in relevant life science R&D clusters in India. The transaction also includes the completion of development on identified land options within the portfolio to cater to tenant expansion requirements."This new investment in MN Park allows us to reinforce our conviction in life science real estate, a key focus area of our diversification strategy into high growth, innovation-focused sectors," commented Chanakya Chakravarti, Managing Director, India, at Ivanhoe Cambridge. "We anticipate that India will further cement its position in the global life science arena in the post pandemic world. A new healthcare focus positions office-labs as a unique and exciting opportunity. We look forward to participating in this high growth sector by expanding the portfolio through select acquisitions in partnership with an aligned asset manager. MN Park offers diversification to Ivanhoe Cambridge's India exposure, thereby enhancing portfolio resilience," he addedAdding to this, Sanket Sinha, Head, Asset Management, Lighthouse Canton, Singapore, said, "This is the first time a global pension fund is investing in life sciences R&D real estate in the country. Genome Valley, being the core of that investment reinforces Hyderabad's leadership position in the life sciences R&D sector. Our collective vision is to invest circa $100mn and double the existing infrastructure, thereby adding over 1mn sq. ft. of life sciences facility in the next few years."

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