Oaktree Invests ₹1375cr For Purchase Of Loans From DHFLs Wholesale Loan Portfolio

DHFL, a housing finance company, has raised Rs 1,375 crore from funds managed by global alternative investment management firm Oaktree Capital Management.

The transaction involves securitisation of wholesale real estate project finance loans with security over a near-complete residential project in Mumbai, DHFL said in a statement.

“We recently committed to expeditiously bring down our project finance exposure. Within less than two months of making the above commitment, company has consummated the above transaction that reduces its project finance book by about 8 per cent. We will continue to focus on growing our retail lending franchise,” Kapil Wadhawan, Chief Managing Director (CMD) at DHFL said.

DHFL intends to reduce its real estate project finance exposure through more such transactions in the future. Certus Capital was the financial advisor for the transaction, added.

With $124 billion in assets under management as of September 30, 2018, Oaktree specialises in alternative investments.