HDFC Capital’s affordable housing fund raises $376 million

January 10, 2023

HDFC Capital said it has raised $376 million under the second scheme of its affordable real estate fund series, achieving initial closure and creating a $3.1 billion platform.

The funds have been raised from the sponsor, HDFC Ltd and a subsidiary of Abu Dhabi’s sovereign wealth fund, Abu Dhabi Investment Authority.

Long term funding

HDFC Capital Affordable Real Estate Fund 3 will be providing long term funding for affordable and mid-income housing projects, while it will also invest in technology firms that are part of the affordable housing eco-system, a release by HDFC Capital said.

Both debt and equity financing will be provided by the fund, and will be deployed over the next 3-4 years.

HDFC Capital is also in active discussions with leading global investors to raise additional funds that will be invested in affordable housing, it said.

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