SBICAP closes housing fund at Rs 10,530 crore

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Published: December 7, 2019 4:31:39 AM

The government of India is the sponsor while SBICAP Ventures is the investment manager to the fund.

SBICAP, SVL, SBI Capital Markets, HDFC , housing projects, housing investment fundThe fund aims to provide capital for last mile funding to complete housing projects. Sanjiv Chadha, chairman at SBICAP Ventures, indicated that the fund has commenced looking for potential opportunities.

SBICAP Ventures (SVL), an alternative asset manager and a wholly owned subsidiary of SBI Capital Markets, on Friday announced the first closing of its special window for affordable and mid-income housing investment fund I at Rs 10,530 crore.

The government of India is the sponsor while SBICAP Ventures is the investment manager to the fund. “The fund has attracted interest from government of India, SBI, LIC, HDFC and all major public sector banks. The government of India has committed a fund infusion of up to Rs 10,000 crore in the Special Window and further investments will be brought in through institutional and private investors to generate a total corpus of Rs 25,000 crore,” SBI Capital said in a statement.

The fund aims to provide capital for last mile funding to complete housing projects. Sanjiv Chadha, chairman at SBICAP Ventures, indicated that the fund has commenced looking for potential opportunities. “We have substantially completed the fund raising, have scaled up the team, formed the investment committee and have begun examining potential investment opportunities,” he said.

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