Development Bank of Japan (DBJ) invests in HDFC Capital's H-DREAM Fund

Key facts

• The government-owned Development Bank of Japan (DBJ) has made its first real estate investment in India by committing capital to the HDFC Capital Development of Real Estate Affordable and Mid-Income Fund (H-DREAM Fund).
• The H-DREAM Fund, managed by HDFC Capital Advisors, has a target corpus of $500 million with a greenshoe option of an additional $500 million.
• Current investor commitments in the H-DREAM Fund exceed $350 million, while HDFC Capital manages real estate platforms with aggregate assets exceeding $4.5 billion.
• The fund integrates the Excellence in Design for Greater Efficiencies (EDGE) green building framework and follows International Finance Corporation (IFC) environmental and social performance standards.
• The investment was routed through an offshore feeder fund structure established under the International Financial Services Centres Authority (IFSCA) framework at Gujarat International Finance Tec-City (GIFT City).