Business Standard

HDFC Capital in $1.22-billion deal for affordable housing fund

HDFC, Abu Dhabi Investment Authority commit $1.22 bn

HDFC
Premium

Abhijit Lele Mumbai
HDFC Capital on Sunday announced that its third fund — HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3) — received a commitment of $1.22 billion from sponsor Housing Development Finance Corporation (HDFC) and Abu Dhabi Investment Authority (ADIA).

In technical parlance, this is an initial close, indicating room for further flow of money into the corpus. Returns from the investments are to be ploughed back into the fund having a life between 12 and 14 years.

Thus, combined with potential reinvestments, the total corpus increases to an estimated $1.88 billion in funds focused on the affordable housing segment.

Meanwhile, HDFC Capital is in talks

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 23 2022 | 2:01 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com