HDFC Capital raises $376 million in latest affordable housing fund

HDFC Capital Advisors Limited, a wholly owned subsidiary of HDFC Limited, has marked a $376 million initial close for Scheme 2 of its HDFC Capital Affordable Real Estate Fund-3 (H-CARE 3) (around Rs 30 billion). This is the fourth fund raised by HDFC Capital for affordable housing investments. H-CARE 3 will provide long-term, flexible equity and debt financing throughout the entire life cycle of affordable and middle-income housing projects, including early-stage funding.