In order to ensure smooth flow of funds to the real estate project being built by the Embassy Group in Bengaluru, KKR has recently invested ₹725 crore in the premium office project. The money will be used to develop over a million square feet of commercial space on the Outer Ring Road in the city over a period of time, said official sources. As a matter of fact, it is a debt funding initiative and the company has invested in a special purpose vehicle of India Asset Finance Ltd (KIAFL) - the real estate-focused non-banking finance company of New York-headquartered private equity company level that holds stakes in the land owned by the Embassy Group. Since 2015 it has invested more than $1.5 billion in Indian realty with a focus on Hyderabad, Mumbai and Pune, said official sources.
