<article><a href="https://www.dealstreetasia.com/?s=HDFC+Capital+Advisors+Ltd" target="_blank" rel="noopener">HDFC Capital Advisors Ltd</a> has raised $550 million for its second affordable housing fund, it announced in a statement.</article>

<a href="https://www.dealstreetasia.com/?s=HDFC+Capital+Advisors+Ltd" target="_blank" rel="noopener">HDFC Capital Advisors Ltd</a> has raised $550 million for its second affordable housing fund, it announced in a statement.
HDFC Capital, a subsidiary of <a href="https://www.dealstreetasia.com/?s=HDFC+Ltd" target="_blank" rel="noopener">HDFC Ltd</a>, will combine the fund with the HDFC Capital Affordable Real Estate Fund &#8211; 1 (H-CARE-1) which was raised last year with a corpus of $450 million to create a $1 billion platform.
The fund will back affordable and mid-income residential projects.
A wholly-owned subsidiary of the Abu Dhabi Investment Authority was the lead investor for both funds. HDFC is the sponsor of the fund, while HDFC Capital is its manager.
“These funds will play a significant role in progressing towards the Housing for All by 2022 objective of the government. Affordable housing will not only act as a growth driver for the real estate industry, but will also be a catalyst for GDP growth. The lack of flexible, long-term capital is one of the key challenges facing developers of affordable and mid-income housing in India,” said Deepak Parekh, chairman, HDFC Ltd.
Last month according to a media report, International Finance Corporation, private sector investment of World Bank, partnered with private sector lender HDFC to float a $800 million fund focussed on affordable housing in India.
In an unrelated development, HDFC Ltd also announced a part exit from Computer Age Management Services Pvt. Ltd (CAMS) and sold 6.3 per cent equity in the company. It is also planning to raise up to Rs13,000 crore via a qualified institutional placement (QIP).
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HDFC Capital Advisors Ltd, a subsidiary of HDFC Ltd, has raised $550 million for its second affordable housing fund, according to a statement.

India: HDFC Capital raises $550m for second affordable housing fund

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India: HDFC Capital raises $550m for second affordable housing fund

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