We identified the need for more capital to be invested in affordable housing in India's poorest states three years ago and identified Kotak as a leading and reputable partner. With a commitment of $50 million, CDC is the only investor into the fund, alongside Kotak. The fund will seek to invest into between five to seven affordable housing development projects in the poorest states ('Category A' states), with the intention of providing affordable homes to working people such as Government employees, employees of small organisations, or self-employed / small business owners.
Approximately 95 per cent of the institutional capital in the Indian real estate sector has been invested in India's top six cities, leaving other parts of the country starved of institutional capital for real estate development. 53 per cent of India’s population lives in the poorest states ('Category A' states) and as we are the only outside investor in the fund, we are playing a highly catalytic role in pioneering investment into that sector and those regions, as the investment is viewed as a positive signal by other commercial investors.
- Investment type
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Intermediated investment
- Fund manager:
- Kotak Alternatives Investment Manager
For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that CDC has committed to the fund.
Investments made by this fund
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