Housing Development Finance Corporation (HDFC) is reportedly setting up a new venture in order to raise capital for a special situations fund that will invest in stressed projects in real estate. The company is in talks with investors to raise capital through the alternative investment fund (AIF) route.
The company will look at the top 6 to 8 cities and evaluate opportunities across segments including commercial office, hospitality and residential. The company’s objective is to find opportunities in real estate stressed assets, and then to capture these projects and turn them around.
HDFC offers a whole gamut of products like loans to individuals, loans to corporates, construction finance, and lease rental discounting. The financial conglomerate has subsidiaries and associates in insurance (general and life), asset management, education finance, venture funds and banking services.
