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HIREF Domestic
Type : India focused Real Estate Private Equity Fund comprising of only domestic investors.
Closing Date : June 2005
Corpus : INR 1,000 Crores
Life Span : 7 year closed ended fund
No. of Investors : 46
Investors : Leading PSU Banks, key corporate & High Net Worth Individuals (HNI's)
Asset Management Company : HDFC Venture Capital Limited (HDFC 80.5% & State Bank of India 19.5%)
Advisor : HDFC Property Ventures Limited
Investments : Fund Fully invested
Exits : The Fund has made six exits from its investment portfolio

Investment Approach & Philosophy

  • Fund's mandate is to invest in unlisted real estate asset companies in India.
  • There has been no segment or regional bias. The Fund's portfolio includes Residential, Commercial, Special Economic Zones and Mixed use real estate developments.
  • The investment manager strives to define feasible exit strategies at the time of investment which could include a public listing, sale to the end user, sale to a strategic buyer, buyback by promoters or liquidation of the portfolio company
  • The investment philosophy of the fund is to work actively with the management of Portfolio companies to build and deliver world class real estate solutions.
  • The fund's philosophy has been to partner with mid-size real estate developers who have a proven track record in the execution of real estate projects. The Fund also continues to leverage the sponsor's extensive network in the developer community through the investment process.
  • All investment proposals are presented to the Investment Committee (IC) of the Fund which comprises of the management of the Sponsor as well as representatives of some key investors of the Fund. Investments are made only post an approval for the IC