Global
alternative asset manager The Carlyle Group has invested $26 million into Value
& Budget Housing Corporation (VBHC), a pioneer in the construction and
development of affordable entry level housing in India. The capital, which will
be used to fund the building of these new homes, comes from FCG IX, a part of
Carlyle Asia Growth Partners IV (CAGP IV), a $1.04 billion sector-agnostic
growth capital fund. Existing investors in VBHC have also committed additional
capital alongside Carlyle, a press statement said. VBHC is setting up an
expansive network of integrated housing projects nationwide that will apply the
latest industrial engineering and construction technology to improve the
construction process, according to a press statement. VBHC aims to bring value
to home-buyers by maximising their financial options, lowering maintenance
costs and ensuring sustainable living through renewable energy and water &
waste management. — Source: Hindu BusinessLine
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