HDFC Fund raises $250m for realty investments
Jul 18 2014 , New Delhi
The fund-raising exercise has been concluded with investments from marquee international institutional investors and marks closure of HDFC's second international real estate fund, it said in a statement.
HDFC had raised an international fund of $800 million in 2007, which is fully deployed.
The recently closed fund will focus on investing primarily in residential property developments in major cities across India.
HDFC Property Fund had also set up in 2005 two domestic real estate funds; one with a corpus of Rs 1,000 crore that has been substantially exited and another Rs 464.4 crore fund, which is fully exited now.
The cumulative assets under management of HDFC Property Fund exceed $1 billion.