NIIF invests ?660 crore in HDFC Capital’s affordable housing projects fund
The National Investment and Infrastructure Fund (NIIF) of India on Tuesday said it has invested ?660 crore in HDFC Capital Affordable Real Estate–2 (HCARE 2), a fund managed by HDFC Capital Advisors. This marks the second investment for NIIF’s Fund of Funds and will see NIIF join a unit of the Abu D
Published -
Oct 17, 2018 6:08 AM
The National Investment and Infrastructure Fund (NIIF) of India on Tuesday said it has invested ?660 crore in HDFC Capital Affordable Real Estate–2 (HCARE 2), a fund managed by HDFC Capital Advisors. This marks the second investment for NIIF’s Fund of Funds and will see NIIF join a unit of the Abu Dhabi Investment Authority (ADIA) as an investor in HCARE 2. “NIIF’s investment in HCARE 2 demonstrates the role that NIIF’s Fund of Funds can play in the infrastructure and associated sectors in India by anchoring and investing with fund managers with strong track records,” NIIF said. HCARE 2 is structured as a Category II Alternative Investment Fund with a corpus of ?4,290 crore. The fund provides mezzanine finance to developers of mid-income and affordable urban housing projects.
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