Trikona Capital sells more of Indian portfolio for $156m

Indian real estate investment firm Trikona Capital is selling a third portfolio to a German fund manager with $21 billion under management.

Trikona Capital and Germany's SachsenFonds Holdings have struck their third deal together, with Trikona selling a $156 milion (€107 million) package of assets.

Trikona, a fund management firm for institutional investment in Indian infrastructure and real estate, has already sold assets in the portfolio of its London Stock Exchange-listed fund Trikona Trinity Capital to Sachsen for nearly $65 million, creating a return of 108 percent. More recently it sold further assets for $150 million and realized a gain of 115 percent.

Following the latest deal, Trikona said proceeds from all three transactions had generated an average return of 117 percent.

Aashish Kalra, co-founder and managing director, said the three figure return had been achieved despite challenging market conditions.

The firm has offices in New York, London, Delhi and Mumbai.