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DHFL raises Rs 1375 cr

Business Finance

Capital Market 

Through securitization of wholesale real estate project finance loans

Dewan Housing Finance Corporation has raised Rs 1375 crore from funds managed by Oaktree Capital Management, L.P. ("Oaktree"), a leading global alternative investment management firm with an AUM of ~US$124Bn. The transaction is structured using RBI's Securitization Guidelines and involves securitization of wholesale real estate project finance loans with security over a near-complete residential project in Mumbai.

The transaction represents one of the largest investments in Indian residential real estate by an institutional investor. DHFL intends to meaningfully reduce its real estate project finance exposure through more such transactions in the future. Certus Capital acted as the financial advisor on the transaction.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, January 29 2019. 09:31 IST