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HDFC targeting $2bn for private credit fund

HDFC Capital Advisors, a division of India’s biggest bank HDFC Bank, is looking to raise up to $2bn for a new private credit fund that will focus on deals in the real estate sector, according to a report by Bloomberg.

The report cites unnamed sources familiar with the matter as revealing that the new fund’s investor base will consist mainly of international institutional investors.

HDFC is initially targeting a $1bn fundraise with an option to expand the vehicle by an additional $1bn, reflecting increasing appetite for private credit in the world’s most populous nation.

According to Bloomberg’s sources, HDFC’s funds typically commit debt to low and mid-income housing projects across the top six metropolitan regions in India.

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