KKR's realty NBFC to borrow $600 mn to bolster lending business

KKR India Asset Finance,  the real estate-focused non-banking finance company (NBFC) of global investor KKR, is aiming to raise $600 million through debt to bolster its lending business and secure an asset base of $800 million in a year, said a source.
 
The move will stand the company in good stead to compete with players such as Piramal Finance and NBFCs such as L&T Finance that are active in lending to property developers, the source said.
 
Singapore government-owned GIC is one of the main investors in KKR India Asset Finance, which has a loan book of $400 million.