India: Virtuous Retail gets $175m funding from Dutch pension fund APG

Dutch pension fund manager APG Asset Management NV has invested $175 million (Rs1,150 crore) of fresh equity into Virtuous Retail South Asia Pte Ltd (VRSA), a joint venture with Xander Group Inc., for acquisitions and greenfield project developments. APG and the retail development arm of investment firm Xander Group had set up the venture in November 2016 to acquire a portfolio of shopping malls from a Xander-sponsored fund for about $300 million.