Trilegal advises HDFC Capital Advisors on structuring and formation of HDream Fund

Trilegal has advised HDFC Capital Advisors in relation to the formation and fund raise by HDFC Capital Development of Real Estate Affordable and Mid-income Fund (HDream Fund) from various investors, both domestic and international, including International Finance Corporation (IFC) as an anchor investor.

Trilegal provided strategic legal advice on the fund’s structure and formation, and led the drafting, negotiation, and finalization of the contribution agreements and side letters with all participating investors.

The transaction team was led by Sai Krishna Bharathan (Partner) and Pallabi Ghosal (Partner), with support from Mahaveer Rajguru (Senior Associate) and Associates Kishan Kumar and Nivruthi Pasupunuri.

HDream Fund is among the first private credit funds globally focused on increasing sustainable affordable and mid-income housing in urban India. It is one of the largest sustainability-led affordable housing funds in India with a target size of USD 1 billion and among the largest globally. It also marks the biggest supply-side financing initiative in this segment.

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