IDFCs asset management arm, IDFC Alternatives has reportedly raised Rs 475 crore under its real estate focused Score Fund. The five-year fund will be investing in residential projects across top seven property markets, including Mumbai, Delhi-NCR, Bengaluru, Pune, Chennai, Hyderabad and Kolkata.
The fund is looking to invest only in projects that have secured approvals and are aiming for gross annualised returns of 20-21 per cent.
Under its third fund, IDFCs private equity arm is looking to raise Rs 750 crore and plans to deploy it through structured debt in mid-income housing projects with senior charge on cash flows.
IDFC is the countrys leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.