Warburg in $100m Indian logistics deal

The US private equity firm will make its fourth Indian investment in the past 12 months in NDR Group, one of the largest warehouse providers in India.

Warburg Pincus will invest up to $100 million in Indian logistics company NDR Group. The firm will acquire a minority stake in NDR’s flagship company, Continental Warehousing.

Pan-Indian logistics company NDR is one of the largest warehouse providers in the Indian private sector, with a customer base across 50 locations comprising over 10 million square feet of storage space, according to a company statement. Warburg is investing out of its tenth global fund that closed on $15 billion in 2007. The deal marks Warburg's fourth investment in India over the past 12 months, according to a spokesperson from the firm.

Spark Capital was financial advisor to Warburg.

Last December, Warburg invested an additional $15 million in Bangalore-based engineering services provider QuEST Global, two months after investing a reported $60 million in the company. Warburg had edged out rivals Bain Capital, Kohlberg Kravis Roberts and ChrysCapital with its $60 million bid.

Warburg has invested $2.2 billion in Indian businesses over the past decade, in companies including Ambuja Cements, ICICI Bank and Lemontree Hotels.

The firm has a portfolio of roughly 100 companies and more than $30 billion in assets under management.