Cerestra Edu-Infra Fund to buy School Chain Assets

Cerestra Edu-Infra Fund to buy School Chain Assets

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Edu InfraIn a first of its kind deal in India, Cerestra, an investment fund focussed on educational infrastructure, is going to acquire the real estate portfolio of K-12 schools from Bengaluru-based Jain Group of Institutions (JGI).

Cerestra Edu-Infra Fund wants to build a network of schools and eventually list on the stock exchanges through a specialist real estate investment trust (REIT). Cerestra is a joint venture between Religare Global Management and two veteran fund managers, Jasmeet Chhabra and Vishal Goel.

The Edu Infra investor will acquire 74 per cent stake in the real estate assets of 12 schools, promoted by Chenraj Jain’s Arka Eduserve, a wholly owned subsidiary of JGI.

Initially, Cerestra is finalising a deal for six schools in Karnataka, Maharashtra and Madhya Pradesh, to be followed by another six beginning June this year.

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