Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor and Piramal Asset Management Private Limited, a wholly‑owned subsidiary of Piramal Enterprises Limited (PEL), on February 6, 2020, announced a platform of USD 300 million, to target private credit financing opportunities in India. CDPQ will contribute 75% of the investment and Piramal will commit the remaining 25%. The platform will offer private credit solutions to companies across various industries in India, including manufacturing, consumer, industrial, healthcare, pharmaceuticals and logistics, among others.
“We are excited to announce the launch of a structured credit platform with our long-term partner and marquee global investor, CDPQ. This platform aims to leverage the significant market opportunity for alternative pools of capital, to provide valuable solutions in the private credit space,” said Ajay Piramal, chairman, Piramal Group. Khushru Jijina, managing director, Piramal Capital & Housing Finance Ltd, added: “The partnership will focus on performing credit and look to invest in companies with a scalable business model that have demonstrated strong execution capabilities, robust cash flows, a validated repayment history with lenders and that require capital to support the continued growth of their businesses.”
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Anita M George, executive vice-president and head of strategic partnerships, growth markets, at CDPQ said, “Through our partnership, we are able to support growing businesses and invest in India’s thriving entrepreneurship.” CDPQ’s real estate subsidiary, Ivanhoé Cambridge, has also committed USD 250 million towards a co-investment platform with PEL to provide long-term equity to blue-chip residential developers.
