AZB & Partners tighten the Partnership between Cerberus and HDFC Capital

AZB & Partners tighten the Partnership between Cerberus and HDFC Capital

Cerberus Asia Pacific Investments, LLC (Cerberus) and HDFC Capital Advisors Ltd. (HDFC Capital) have partnered to target the creation of a special situations platform (Platform) focused on high-yield opportunities in the Indian residential real estate sector.

Cerberus Capital Management, L.P. is an investment advisor registered with the United States Securities and Exchange Commission. Cerberus is a global leader in alternative investing with over $53 billion in assets across complementary credit, non-performing loan, real estate, and private equity strategies.

HDFC Capital Advisors Limited, a 100% subsidiary of HDFC Ltd, provides investment management services for real estate private equity financing and is one of the largest fund managers in the country.

According to a Press Release by Cerberus, "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 intends to partner with quality developers to provide capital solutions and expedite project construction and completion.

According to the Press Release, Mr. Frank Bruno, Co-Chief Executive Officer of Cerberus, commented: "Cerberus has a long track record of partnering with businesses and real estate operators around the world. Together with HDFC Capital, we look forward to supporting high-quality developers and leading projects in one of India's most important sectors."

Mr. Vipul Roongta, Managing Director and Chief Executive Officer of HDFC Capital, was quoted as saying, "HDFC Capital is focused on providing flexible financing solutions to developers in the Indian residential real estate sector. Currently, there is a severe shortage of last mile funding for distressed under construction real estate projects of even well-intentioned developers. Our partnership with Cerberus in an important step towards easing financing constraints faced by good developers and projects and will kick start execution of residential real estate projects in India."

AZB & Partners advised Cerberus in the venture. The AZB & Partners team comprised of Ashwath Rau and Pallabi Ghosal (Partners) and Ananya Sonthalia (Senior Associate).

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