Abu Dhabi’s Platinum Jasmine Trust participates in housing finance in India
The Competition Commission of India (CCI) has approved on 13 Aug 2022 acquisition of stake in IIFL Home indirectly by Abu Dhabi Investment Authority (ADIA), the sole beneficiary and settlor of the Platinum Jasmine Trust.
IIFL Home, a housing finance company registered with the National Housing Bank, is engaged in providing loans for purchase, construction and renovation of homes; small and medium enterprise secured loans for business; and construction finance loans to builders and developers engaged in construction of affordable homes.
It is a wholly-owned subsidiary of IIFL Finance Limited.
Platinum Owl, a restricted scope company (private limited company), incorporated in the Abu Dhabi Global Market (ADGM), is acting in its capacity as trustee for Platinum Jasmine Trust, which was established under the laws of the ADGM.
ADIA is a public institution established as an independent investment institution by the Emirate of Abu Dhabi. ADIA manages a global investment portfolio across multiple asset classes and sub-categories including developed equities, emerging market equities, small cap equities, government bonds, credit, fixed income, real estate, infrastructure, private equity, cash and alternatives. fiinews.com
