New Delhi: Larry Finks firm Blackstone Group along with its development partner Panchshil Realty is set to develop India’s single largest hyper scale data center with 500 MW capacity in Navi Mumbai with an investment of over Rs 20000 crore according to a Economic Times report. Blackstone Group is the worlds largest alternative asset management company. It is important that the data center will be the first of its kind in India; it will occupy 14 buildings totaling 3 million square feet and running on up to 65 percent renewable energy. Panchshil Realtys subsidiary Gramercy Info Park has paid Rs 900 crore including consideration levies and charges for nearly 50 acres of land adjacent to Reliance Corporate Park in the Ghansoli neighbourhood of Navi Mumbai. In two separate agreements Gramercy Info Park has acquired the entire property area of MIDC Trans Thane Creek Industrial Area. Real estate data analytics firm Propstack provided the documentation for both deals which were registered on February 11. This project marks the first significant Foreign Direct Investment since Blackstone recently reached an agreement with the Maharashtra government at Davos. At the event the US-based asset manager signed three agreements as part of its plan to expand in Indias real estate and digital infrastructure markets. Meet BlackRocks Founder Larry Fink: Larry Fink is Chairman and Chief Executive Officer of BlackRock. In 1988 he and along with his seven partners founded BlackRock Under his leadership the firm has grown into a global leader in investment and technology solutions. The mission of BlackRock is to help our clients build better financial futures The firm is trusted to manage more money than any other investment company in the world. Fink was also a member of the management committee and a managing director of The First Boston Corporation. He serves as a member of the Board of Trustees of the World Economic Forum and is Co-Chair of the NYU Langone Medical Center Board of Trustees. In addition he serves on the boards of the Museum of Modern Art and the International Rescue Committee. He also serves on the Advisory Board of the Tsinghua University School of Economics and Management in Beijing and on the Executive Committee of the Partnership for New York City. Fink earned an MBA from the University of California at Los Angeles (UCLA) in 1976 and a BA from UCLA in 1974. Financial firms such as JPMorgan Chase & Co. HSBC Holdings Plc and Apollo Global Management Inc. employ thousands in their India hubs. Goldman Sachs Group Inc. has invested in its GCCs in Bengaluru and Hyderabad that employ about 9000 people according to the firm’s website. Blackstone Maharashtra Investment Last month Larry Finks company announced to invest around USD 11 billion in Maharashtra over the next three to five years. Blackstone and the Maharashtra government signed three significant agreements at the World Economic Forum in Davos.  Leading the state delegation Chief Minister Devendra Fadnavis hailed the partnership as a major boost to the state’s infrastructure and economy. Of the total investment Mumbai will receive approximately $5bn. Mumbai 3.0 is the state governments ambitious initiative to develop a third city aimed at expanding the capacity of Mumbai the nations financial hub and Navi Mumbai its satellite city.