|Type ||: ||HIREF International LLC is a real estate focused private equity fund with only International investors. |
|Closing Date ||: ||August 2007 |
|Life Span ||: ||9 year closed ended fund |
|Fund Corpus ||: ||USD 800 million ( including USD 50 million by sponsor HDFC Ltd) |
|No. of Investors ||: ||34 |
|Investors ||: ||Sovereign Funds, Banks, Corporates, Fund of Funds & HNI's |
|Asset Management Company ||: ||GRIHA Investments |
|Advisor ||: ||HDFC Property Ventures Limited (HPVL) |
|Investments ||: ||Fund fully committed |
|Exits ||: ||The Fund has made one exit from its investment portfolio |
HIREF International LLC, a Mauritius based fund, is managed by GRIHA Investments in the capacity of Investment Manager for all its investments. HPVL is the Investment Advisor to GRIHA Investments for the Fund's investments in India.
Investment Approach & Philosophy
- The objective of the Fund was to give international investors a platform to get exposure to the growing Indian Real Estate Sector.
- The investments of the Fund would be subject to exposure limits with respect to location, asset class, developer and project.
- The investment of the Fund has primarily been in the Residential segment and it also has an exposure to the Commercial (IT and Non IT) and Hospitality segments.
- Currently the focus of the Fund is primarily on Tier 1 cities and Residential and Commercial segments.
- The Fund will continue to leverage existing relationships in the industry with developers, corporations and financial institutions for sourcing deals, raising debt for portfolio companies etc.
- Also the philosophy for investment is not to be passive financial investors but to be actively involved in the strategic decision making of the portfolio companies. However we believe that the developer partner should be responsible for the day to day affairs of the Companies.