Singapore’s Lighthouse Canton eyes nearly S$2B investments in India’s private credit and real estate sectors

SINGAPORE: Singapore-based asset manager Lighthouse Canton plans to invest more than US$1.5 billion (S$1.94 billion) in India, targeting over US$1 billion in private credit and about US$500 million in real estate investments within three to four years, Reuters reported, citing the firm’s managing director and CEO Sanket Sinha.

Mr Sinha said, “We see India becoming one of the largest investment destinations for Lighthouse Canton.”

By next year, the company plans to launch a new India-focused private credit fund targeting to raise between 10 billion (S$147.9 million) and 15 billion rupees.

Pranob Gupta, the firm’s managing director of India alternatives, said the private credit fund will back companies with cross-border opportunities, acquisition financing, turnaround investments, and asset-light companies with good cash flow, such as IT or SaaS businesses.

Mr Gupta said the firm sees strong potential in mid-market deals ranging from US$10 million to US$50 million.

Lighthouse Canton, which currently operates seven offices across India, is also exploring opportunities in Bengaluru and Mumbai, Mr Sinha said.

Lighthouse Canton has already invested over US$350 million in Indian alternative assets and manages a 1.2 million square foot (sq ft) portfolio of real estate related to life sciences, including research and development labs in Hyderabad.

The company operates both a growth debt fund for mid-to-growth stage firms in India and Southeast Asia and an early-stage venture equity fund focused on India. It also manages about US$4 billion in assets globally. /TISG

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