California-based financial services company Capital Group has invested 876 crore rupees ($125 million) in Indian real estate investment trust Embassy Office Parks.
Embassy Office Parks, a joint venture between U.S. private equity major Blackstone and Indian real estate developer Embassy Group, is poised for a $700 million listing on the stock exchanges soon.
Capital Group will have a six-month lock-in once Embassy Office Parks starts trading.
The company via its entities, American Funds Insurance Series, New World Fund Inc. and Small Cap New World Fund, subscribed to 29.2 million units in the upcoming Embassy Office issue.