LICHFL AMC (Asset Management Company), a subsidiary of LIC Housing Finance announces its first fund called ‘LICHFL Urban Development Fund’. The fund aims to raise up to Rs. 500 crore.The fund will make investments in companies involved in development of mid income affordable housing, income yielding micro infrastructure assets including Industrial & IT Parks, SEZ, other allied segments through equity & equity-related instruments. The fund plans to achieve balanced returns by investing in a diversified portfolio, both geographically and by asset class.
The fund will invest with known promoters with good track record and will create incentive for JV partners by linking part of the profit share with performance, thereby aligning interest with investors. Investments will be in locations which have identified drivers of economic growth and adequate depth by way of demand
Mr. A. K Sharma, Chief Executive Officer, LICHFL AMC said: ’Looking at the increasing need for equity for successful financial closure of projects in the fast growing Indian economy, the LIC Group has ventured into the Private Equity space with its maiden offering, the ‘LICHFL Urban Development Fund’. The portfolio investments of the fund would be made in mid income housing projects and income yielding micro infrastructure assets like IT Parks and Warehouses. The Fund will be managed by LICHFL Asset Management Company Limited (AMC), a subsidiary of LIC Housing Finance Limited."
About LICHFL AMC..!
The LIC Group has ventured into the Private Equity space with its maiden offering, the ‘LICHFL Urban Development Fund’. The Fund will be managed by LICHFL Asset Management Company Limited (AMC), a subsidiary of LIC Housing Finance Limited. The AMC intends to follow with a series of other funds to cater the needs of increasing urbanization in the fast growing economy.
About LIC Housing Finance..!
LIC Housing Finance (LIC HFL)is one of the largest housing finance companies in India having one of the widest networks of about 210 offices pan India and representative offices at Dubai & Kuwait.
In addition, the LIC HFL also distributes its products through branches of its subsidiary LICHFL Financial Services. LIC HFL was promoted by Life Insurance Corporation of India in 1989 and a public issue was made in 1994. It launched its maiden GDR offering in 2004. The company enjoys the highest rating from CRISIL & CARE indicating highest safety with regard to the ability to service interest and repay principal.
Photo Caption: From Left to Right - Mr. A. K. Sharma, CEO of LICHFL AMC , Mr. Thomas Mathew T, Managing Director, LIC of India and Chairman, LICHFL Trustee Company, Mr. D K Mehrotra, Current in-charge Chairman, LIC of India and Chairman LICHFL Asset Management Company Mr. V. K. Sharma, Director and Chief Executive, LIC Housing Finance at a media conference to announce the launch of ‘LICHFL Urban Development Fund’
LICHFL Financial Services LtdPIL Court,
4B, 4th Floor,
111, Maharshi Karve Road,
Churchgate,
Mumbai-400 020.
ContactMr. Mangesh Hedaoo (Synergist)
Mail: fsl.helpline@lichflfinserv.com
Phone: +91 22 4344 7575
Fax: +91 22 4344 7500
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