 "HDFC Capital, the real estate fund management arm of HDFC, has around $600 million of investable funds")
Real estate-focused private equity funds HDFC Capital, Xander Group, Kotak Realty Fund and Motilal Oswal Real Estate are actively scouting for housing deals.
Non-banking finance companies (NBFCs), which had replaced banks in lending to realty developers, have since turned cautious in doing so. This was after their facing a liquidity squeeze in the aftermath of the IL&FS defaults.
“These (HDFC, Motilal, Kotak) PE funds have equity money to invest. The space vacated by NBFCs is being filled by PE funds which have money,” said Rajeev Bairathi, head of capital markets at realty consultants Knight Frank.
