The Townsend Group Invests in KKR's Real Estate Lending Platform in India

KKR-sponsored and managed, Non-Bank Finance Company (NBFC) received undisclosed amount

The Townsend Group today announced an investment in a KKR-sponsored and managed, Non-Bank Finance Company (NBFC) in India. Investment details were not disclosed.

The real estate sector focused NBFC, which includes Singapore's sovereign wealth fund GIC as a lead investor, provides credit solutions for property developers, filling the capital gap in India's residential and commercial real estate sectors.

The NBFC will engage in senior-secured lending to the fast growing Indian real estate market, according to the press release.

Prashant Tewari, Principal of The Townsend Group, said that , "Townsend is excited to invest alongside GIC in the KKR managed real estate lending platform. The strong secular demand for middle market housing requires innovative credit solutions and long-term capital. The KKR NBFC platform provides our clients a thoughtful framework to execute in India and a strong investment partner with specialised, local market and property expertise."

 

Sanjay Nayar, CEO of KKR India was quoted saying this additional long term capital allows the real estate NBFC to better fulfill a critical market need by assisting developers with solutions best suited to their needs.