 "realty funds")
The Government of India-backed Alternative Investment Fund (AIF) for distressed housing projects has received Rs 10,530 crore in its first closing.
The fund has attracted interest from investors such as Government of India, SBI, LIC, HDFC Ltd and all major public sector banks, SBICAP Ventures said in a statement. It is the Investment Manager of this fund.
The fund aims to provide senior capital for last-mile financing to complete the construction of housing projects.
The Government of India, the sponsor of the fund, has committed an infusion of up to Rs 10,000 crore in the special window. Additional investments will be brought in
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