Private Equity

Fund News

HDFC Capital raises $376-M for new affordable housing fund

Business Standard  

HDFC Capital, the real estate private equity arm of HDFC Group, has raised USD 376 million, achieving the initial close for the second scheme of its third fund (H-Care 3). The primary investor in the H-Care schemes is a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). The fund will provide long-term, flexible funding across the life cycle of affordable and mid-income housing projects including early-stage funding. In addition, it will also invest in companies in the construction technology, fintech, and sustainability-tech in the affordable housing ecosystem. HDFC Capital targets to finance 10 lakh affordable homes through a combination of financing, partnerships and technology, while focusing on sustainability. Since the launch in 2016, H-Care, across its schemes, has created a USD 3.1 Billion funding platform.