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HDFC, Cerberus tie up for funding real estate projects


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. ....

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Japan Stocks rise 0.72%


Japan share market finished session higher on Thursday, 01 April 2021, as investor sentiments improved on increased optimism for the U. S. economic recovery and after a key Bank of Japan survey showed sentiment among major Japanese manufacturers recovering to a pre-pandemic level.
At closing bell, the 225-issue Nikkei Stock Average advanced 210.07 points, or 0.72%, to 29,388.87. The broader Topix index of all First Section issues on the Tokyo Stock Exchange added 3.64 points, or 0.19%, to 1,957.64.
Total 22 sub-indexes of the 33 sector sub-indexes on the Tokyo exchange traded lower, with Iron & Steel, Air Transportation, Electric Power & Gas, Rubber Products, Transportation Equipment, and Oil & Coal Products issues being notable losers, while Precision Instruments, Insurance, Electric Appliances, Metal Products, and Mining issues were notable gainers. ....

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