Investing Trends

Housing Development Finance Corporation (HDFC) today announced the shutting of its first sponsored international existent estate fund, HIREF International LLC, at $800 million.The nine-year, close-ended fund, unfastened for subscription from lone foreign investors, was subscribed to by 28 investors.Renu Sud Karnad, president of HDFC Place Ventures and executive manager director of HDFC, said: "The aim of the monetary monetary fund is to put in FDI- compliant existent estate undertakings in Republic Of India to accomplish long-term capital appreciation. The monetary fund will aim equity tax returns of 20-25%. The monetary monetary fund will have got a conservative attack with no regional or sector bias, and would put in residential, commercial, hospitality, instruction and healthcare sectors and at the developers' physical thing level."With this international existent estate fund, HDFC will be the biggest participant in the existent estate private equity space in India, the release added.