April 01, 2021
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HDFC Capital Advisors and an affiliate of Cerberus Capital Management have partnered to target the creation of a special situations platform focused on high-yield opportunities in the Indian residential real estate sector.
“The platform will seek to purchase inventory and provide last-mile funding for under construction residential projects across India, among other real estate-related opportunities,” the companies said in a statement on Thursday.
The development of the platform comes as a response to the series of shocks to the Indian residential real estate market that have created a significant need for capital, it further said, noting that many buyers have been unwilling to fund projects in advance of completion while traditional financing channels have come under severe pressure.