India’s HDFC Capital, a private equity investment manager, said on Sunday (Jan 23) it has raised US$1.8 billion from investors, led by a unit of sovereign wealth fund Abu Dhabi Investment Authority (ADIA), for its third low-cost housing fund.

This includes an upfront amount of US$1.2 billion with an additional US$600 million committed towards reinvestment of the principal amount, the company said in a statement.

Together with its first two funds, in which ADIA has also invested, HDFC Capital has a US$3 billion funding platform, making it one of the biggest in the world for affordable housing.

Read more: CNA