26.03.2013 - KKR, Singapore GIC to set up real estate-focused NBFC
Kohlberg Kravis Roberts and Co. LP (KKR), one of the world’s largest private equity (PE) firms, is joining hands with Singapore’s sovereign wealth fund to set up a non-banking financial company (NBFC) that will lend funds to property developers in India as other sources of cash dry up. To begin with, the NBFC, for which the regulatory approvals are currently under way, will have a corpus of $150 million (around Rs.810 crore), said three people close to the development. This will be the first real estate-focused NBFC in India. “Government of Singapore Investment Corp. (GIC) will be one of the anchor investors in the NBFC, while KKR is putting capital from its balance sheet into it,” said one of the two person cited above, who did not want to be identified...............................................Full Article: Source
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