📋 Tender Overview
Project Number: 47649
Company Name: HDFC CAPITAL ADVISORS LIMITED
Date SPI Disclosed: Jul 31, 2024
Country: India
Region: South Asia
Projected Board Date: Sep 16, 2024
Environmental Category: FI-2
Status: Pending Signing
Department: Regional Industry - MAS Asia & Pac
Industry: Funds
Sector: Other Non-Private Equity Fund
Project Description
The proposed project entails an IFC investment of up to US$ 150 million in HDFC Capital Development of Real Estate Affordable and Mid-Income Fund – 1 by HDFC Capital AIF – 4 ( H-DREAM Fund ), an innovative fund focused on investing in senior, secured green loans and other debt instruments issued by developers of for-sale, green residential real estate. The H-DREAM Fund will have a target corpus of US$ 1 billion (US$ 500 million with a green shoe of US$ 500 million) and will be managed by the real estate private equity arm of HDFC Group, HDFC Capital Advisors Limited (HDFC Capital).
The H-DREAM Fund will be established as a SEBI Category II Alternate Investment Fund ( AIF ). The residential housing projects financed by the H-DREAM Fund will adhere to the IFC Excellence in Design for Greater Efficiencies ( EDGE ) green building framework and will be focused on the affordable and mid-income housing segments in Tier 1 and Tier 2 cities across India.
Total Project Cost and amount and nature of IFC's Investment:The Fund will have a target corpus of US$ 1 billion (US$ 500 million with a green shoe of US$ 500 million) with HDFC Capital commitment of upto US$ 50 million (5% of fund size). IFC’s investment will comprise the lower of US$ 150 million or upto 20% of the capital raised.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
