Townsend Group invests in KKR's realty NBFC

Townsend Group, investment management solutions provider, has invested an undisclosed amount in a KKR-sponsored and managed NBFC.
KKR had floated NBFC in January this year with Singapore's sovereign wealth fund GIC as the lead investor, which provides credit solutions for property developers across residential and commercial segments.
"This is a unique investment opportunity, within select emerging markets, that seeks to benefit from the lack of long-term capital and strong urbanisation trends. The NBFC will engage in senior-secured lending to the fast growing Indian real estate market," Principal of The Townsend Group Prashant Tewari said in a statement.
He further said the strong secular demand for middle market housing requires innovative credit solutions and long-term capital and the platform will provide our clients a thoughtful framework to execute in India and a strong investment partner with specialised, local market and property expertise.

KKR India Chief Executive Sanjay Nayar said, "This additional long term capital allows the real estate NBFC to better fulfil a critical market need by assisting developers with solutions best suited to their needs.