CDC, Kotak Realty in talks for affordable housing fund

CDC Group's portfolio of investments, valued at £4.8 billion, comprises 1,245 investee businesses

CDC Group, an investment entity owned by the British government, is in talks with Kotak Realty Fund to float a fund for investing in affordable housing projects, said a source in the know.

The fund would have a corpus of around $100 million (Rs 650 crore), in the form of a managed account, said the source. In such an account, a single Limited Partner commits money to a fund manager and the latter invests on behalf of the former. As opposed to a ‘blind pool’, where the fund manager raises money from different investors and has the discretion to invest wherever