HDFC Capital Advisors Limited (HDFC Capital) and an affiliate of Cerberus Capital Management, LP (Cerberus) have partnered to create a special situations platform focused on high-yield opportunities in the Indian residential real estate sector.
The platform will seek to purchase inventory and provide last-mile funding for under-construction residential projects across India, among other real estate-related opportunities.
The platform was developed in response to a series of shocks to the Indian residential real estate market that created a significant need for capital. Not only have buyers become unwilling to fund projects in advance of completion, but traditional financing channels have also come under immense pressure.
