HDFC Capital and Cerberus have partnered to form a special situations platform for the Indian residential real estate sector. In a BSE filing made after market hours on Thursday (1 April 2021), the housing financier said that HDFC Capital Advisors (HDFC Capital) and an affiliate of Cerberus Capital Management (Cerberus) have partnered to target the creation of a special situations platform focused on high-yield opportunities in the Indian residential real estate sector. The platform will seek to purchase inventory and provide last-mile funding for under construction residential projects across India, among other real estate-related opportunities. The development of the platform is in response to a series of shocks to the Indian residential real estate market that have created a significant need for capital. Many buyers have been unwilling to fund projects in advance of completion while traditional financing channels have come under severe pressure.