D E Shaw invests Rs 1,000cr in HDIL unit

International hedge fund D E Shaw Composite Investments (Mauritius) has invested $250 million (approximately Rs 1,000 crore) in Mack Star Marketing - a group company of Mumbai-based real estate firm HDIL.

Mack Star Marketing is developing a commercial complex of about 54,000 sq. mtrs. (built up) in Andheri, Mumbai. The development rights were granted by HDIL.

HDIL, earlier this year, had bagged a rehabilitation project from the Maharashtra government covering over 276 acre around the Mumbai airport.