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HDFC Bank's Arm Plans $2 Billion Private Credit Fund

HDFC Capital Advisors looking to raise $1 billion dollar with an option to expand it by an additional $1 dollar

HDFC Bank's Arm  Plans $2 Billion Private Credit Fund
POSTED ON September 01, 2023 1:00 PM

HDFC Capital Advisors, An arm of HDFC bank wants to raise as much as $2 billion for a real estate private credit fund as the demand for homes has seen a surge in the country. HDFC Capital Advisor Ltd is looking to raise $1 billion dollar with an option to expand it by another $1 dollar. people familiar with the development said that the investor base will be largely international investors. 

After the pandemic, a surge in demand has been registered in the country. A recent report by CBRE South Asia Treal estate consulting firm based in seven cities of India has observed that the demand for luxury housing segment has registered a 130 per cent Y-o-Y increase in  January-June this year.

HDFC’s funds typically commit debt to low and mid-income housing projects across the top six metropolitan regions in India. The subsidiary of HDFC Bank was merged in July this year. It has committed about $3.5 billion to previous projects in different parts of the country.

In April, it entered into an agreement for the acquisition of compulsorily convertible shares of Loyalie IT-Solutions, a real estate brokerage service provider. It has also invested in six projects worth over 1550 crore in a portfolio led by Shapoorji Pallonji Real Estate.

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