ADIA invests in HDFC housing fund
Abu Dhabi Investment Authority (ADIA), Abu Dhabi’s sovereign wealth fund, is the primary investor in a new affordable housing fund in India. ADIA has invested in HDFC Capital Advisors to help the latter achieve the initial close of its second affordable housing fund, the HDFC Capital Affordable Real Estate Fund - 2. This fund will be combined with the HDFC Capital Affordable Real Estate Fund - 1, which was raised last year, to create a $1 billion platform targeting affordable and midincome residential projects in 15 cities in India. ADIA is the primary investor in both funds. The primary objective of the platform is to provide capital to developers at the land and pre-approval stage for the development of affordable and mid-income housing across India.