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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.
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