HDFC Capital raises $1.22 bn for affordable housing fund

H-CARE 3, combined with potential reinvestments by the fund, would create an estimated total fund corpus of $1.88 billion.

HDFC Capital, a wholly owned subsidiary of HDFC Ltd said it has raised $1.22 billion towards its third fund, the HDFC Capital Affordable Real Estate Fund – 3 (H-CARE-3) which is focused on affordable housing.

H-CARE 3, combined with potential reinvestments by the fund, would create an estimated total fund corpus of $1.88 billion. HDFC Capital is a real estate PE arm of HDFC Ltd.