Global investment firm KKR’s real estate-focused non-banking finance company, KKR India Asset Finance on Monday said it has extended ₹725 crore ($102 million) in debt to real estate developer Embassy Group to finance a premium office development in Bengaluru.

Embassy Group, founded by Jitu Virwani in 1993, is one of the leading real estate developers in India with a strong presence in the commercial office space sector, across key Indian markets. Based in Bengaluru, it has delivered 53 million square feet of office, residential, retail, hospitality and industrial warehouses.

KIAFL has been active since 2015 and has invested more than $1.5 billion in India’s realty sector, as of February 2019. It maintains a core focus on high-quality opportunities in cities including Bengaluru, Hyderabad, Mumbai and Pune.

“KIAFL looks to provide tailored, flexible financing solutions to high-quality projects in strong micro markets. With this in mind, mid-market residential and commercial projects in Bangalore are among the most interesting themes for us. Embassy Group is a leader in this space, and we are excited to support the Embassy team to meet the growing demand for quality office space in the city,” said Sanjay Nayar, member and head of KKR India, in a statement.

Last month, KKR had appointed Shikha Sharma, former managing director and chief executive of Axis Bank, as an advisor to its corporate and real estate-focused NBFCs in India. As an advisor, Sharma is assisting KKR’s NBFCs by advising them on areas for business growth, value-creation opportunities, and strategic mergers and acquisitions, among other duties.

In the meantime, KKR also said that it has completed the acquisition of Ramky Enviro Engineers, which provides environmental services and solutions in India and overseas. Under the terms of the transaction, KKR has acquired a 60% stake in REEL for nearly $510 million via a combination of primary and secondary investments. In addition to investing in REEL from its KKR Asian Fund III, the investment is part of KKR’s Global Impact strategy, which is focused on identifying and investing behind businesses with positive social or environmental impact that measurably contribute solutions to one or more of the United Nations Sustainable Development Goals.

KKR entered India in 2009, though it had made substantial investments in the country before setting up an office. Over the past decade or so, KKR has invested over $8 billion in Indian companies—half that in PE deals, and the rest in credit to more than 100 companies through its non-banking finance company. This is one of the largest capital exposures by a global PE investor in India.

KKR has been the pioneer in developing private high-yield and structured credit investing in India. The firm operates in the credit space through an NBFC and Alternative Investment Funds. In December, KKR had appointed former Edelweiss Alternate Asset Advisors’ executives Sumanth Cidambi and Vijay Padmanabhan as directors for the firm’s credit business in India.

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