Japan's SuMiTB makes first investment in Indian real estate fund through HDFC Capital

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Sumitomo Mitsui Trust Bank invested in HDFC Capital Development of Real Estate Affordable and Mid-Income Fund, marking its first Indian real estate fund entry.

Sumitomo Mitsui Trust Bank (SuMiTB), a Japanese financial institution, has committed capital to HDFC Capital Development of Real Estate Affordable and Mid-Income Fund (H-DREAM Fund), marking its first investment in an Indian real estate fund.

The investment, announced on November 6, has been made through HDFC Capital Advisors’ offshore feeder fund structure established under the International Financial Services Centres Authority (IFSCA) framework at Gujarat International Finance Tec-City (GIFT City).

H-DREAM Fund, managed by HDFC Capital Advisors, has a target corpus of $500 million, with an additional greenshoe option of $500 million. The fund has secured investor commitments of more than $400 million so far, according to the companies.

The fund provides financing to residential real estate projects focused on affordable and mid-income housing.

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