HDFC Fund raises $250m for realty investments

HDFC Property Fund, a part of financial sector conglomerate HDFC group, today announced the closure of $250 million international fund focused on investing in Indian real estate.

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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • Time and tide are ripe for megaplans such as Sagarmala

    To say that India’s infrastructure is in urgent need of upgrade would be to state the obvious.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

China looks to India for balance

Almost a third of the total world population lives in ...

Zehra Naqvi

Love and its stories

People must have bread. They can live without stories. No, Hameeda, ...

Dharmendra Khandal

Tiger in urban landscape

Ranthambhore is in a no-win situation. Just a few days ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture