HDFC acquires 9.9% stake in Kerala Infrastructure Fund Management

Housing Development Finance Corporation (HDFC) has acquired a stake of 9.9% in Kerala Infrastructure Fund Management Limited (KIFML), an asset management firm promoted by the Kerala Infrastructure Investment Fund Board (KIIFB).

In this regard, the Indian housing finance company purchased 3,88,303 shares of Kerala Infrastructure Fund Management at INR10 each in cash on a private placement basis.

Kerala Infrastructure Fund Management was incorporated in late 2018. It mainly functions as the investment manager for the Infrastructure Fund Vehicles (IFV) sponsored by Kerala Infrastructure Investment Fund Board.

HDFC acquires 9.9% stake in Kerala Infrastructure Fund Management. Photo courtesy of Tumisu from Pixabay.

In 2016, the Kerala government for fast tracking investment in the infrastructure sector, revamped the Kerala Infrastructure Investment Fund Board for bringing in funds to finance highly important and large infrastructure projects in the South Indian state.

Recently, HDFC through its subsidiary – HDFC Capital Advisors forged a partnership with an affiliate of US private equity company Cerberus Capital Management for creating a special situations platform targeting the Indian residential real estate sector.