Trikona Capital Ltd., the leading fund management firm for institutional investment in infrastructure and real estate, today announced the expansion of its urban rejuvenation platform in Mumbai to continue to foster socially conscious development. The announcement supports Trikona’s overall urban rejuvenation initiative to build 100 million square feet of saleable space over the next decade.

Trikona has inked a new four-acre project in Bandra, the sought after residential area adjacent to Mumbai’s central business district, to fund the refurbishment of middle-class homes and the development of luxury housing. The $40 million deal is a co-investment in the project with German fund manager SachsenFonds. In the past twelve months, Trikona has developed a strong strategic partnership with the fund manager and announced sales of assets to SachsenFonds totaling $170 million.

While Trikona has more than 15 urban rejuvenation redevelopment projects in India’s financial and entertainment center totaling an aggregate 20 million square feet, this marks the first investment that includes the refurbishment of middle-class housing. Trikona has again joined with developer Keystone Constructions Private Limited after successfully creating the Rustomjee Township in 2006, one of the largest integrated developments in Thane, Mumbai.

“Trikona continues to lead socially conscious urban rejuvenation efforts in India,” said Aashish Kalra, Co-Founder and Managing Director, Trikona Capital. “Even in this tough global economic climate, we have demonstrated our ability to leverage and expand existing partnerships to scale our investment platforms and generate returns of 100%. Urban rejuvenation is a critical component of Mumbai’s future development and India’s continued social and economic growth.”

Urban rejuvenation projects approved by the Indian government require investors and developers to build new homes for current residents, often with double the square footage, and to provide them with money to relocate during construction. Developers may then build the remaining land or sell it at market prices.

About Trikona Capital

Trikona Capital is the leading fund management firm for institutional investment in Indian infrastructure and real estate assets. Trikona Capital has developed a unique and scalable platform that combines an experienced team in India, strong governance and investor reporting standards, and strategic partnerships with leading companies to invest in India's high growth industry sectors. Trikona’s diversified portfolio of investments span the residential, commercial, retail, infrastructure, industrial, hospitality, and urban rejuvenation sectors, creating a complete ecosystem of projects designed to capitalize on India’s surging economic and social development. With offices in New York, London, Delhi and Mumbai, Trikona also manages the fund Trikona Trinity Capital PLC (LSE: TRC), which has been invested into Indian real estate and infrastructure projects. For more information, go to www.trikonacapital.com.