Home Loan News
HDFC raises $800 mn international realty fund for India
Monday,3rd September 2007
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HDFC announced the closure of its first sponsored
‘HDFC International Real Estate Fund’ (HIREF) at $800 million on August 30. This
will be invested in FDI-compliant Indian realty projects.
HIREF makes HDFC the largest player in the real estate private equity space in India. One of the largest international real estate pools, the nine-year close-ended fund, that was open only to foreign investors had been privately placed and subscribed by 28 investors. The fund will have a conservative approach and will invest in residential, commercial, hospitality, education, healthcare and developers' entity level. The fund's strategy is to invest in these companies and manage its funds in a manner that enables realty developers to harness growing Indian economy and develop profitable ventures. |
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