India Digest: HDFC Capital to ink 3 housing JVs; EWPL draws investor interest

HFDC Capital is planning new investment platforms targeting the affordable housing segment while a clutch of investors have shown interest in joining Brookfield for the acquisition of East West Pipeline.

HDFC Capital plans new investment platforms for affordable housing

HDFC Capital is planning to form three joint venture platforms with real estate developers for investments in the affordable housing space, per a Business Standard report quoting sources. HDFC Capital is said to have agreed to form a platform deal with Mumbai-based Rustomjee and is in talks with two other developers for similar deals. Last year, The National Investment and Infrastructure Fund (NIIF)’s Fund of Funds invested $90 million in HDFC Capital Advisors Ltd’s real estate investment platform HDFC Capital Affordable Real Estate – 2 (H-CARE 2).

Marquee investors keen to join Brookfield’s acquisition of East West Pipeline

A number of  asset management companies, family offices, banks and insurance firms have reportedly envisaged interest in participating in the Brookfield-led infrastructure investment trust (InvIT) that is acquiring East West Pipeline Ltd (EWPL), formerly Reliance Gas Transportation Infrastructure Ltd.

A source-based report in The Economic Times said the deal is likely to be done at an an enterprise valuation of Rs 13,000 crore ($2 billion). According to the report, ICICI Prudential Asset Management Company and the family office of the Poonawallas of Serum Institute are likely to join the Canadian investor in India Infrastructure Trust-the vehicle that is being created for the acquisition to take over the pipeline.

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NIIF’s FoF invests $90m in HDFC’s affordable housing platform

HDFC plans special situations fund to invest in stressed realty projects