Piramal, Canada’s CPPIB form $500mn realty investment fund • - TopicsExpress



          

Piramal, Canada’s CPPIB form $500mn realty investment fund • Ajay Piramal -promoted Piramal Enterprises, said it has formed a strategic alliance with Canada Pension Plan Investment Board to set up a $500 million real estate finance company in India. • It will provide rupee debt financing to residential projects in Indian cities. • Piramal and CPPIB will initially invest USD 250 million each in the venture, which will focus on providing project-level debt to local developers across Mumbai, Delhi region, Bangalore, Pune and Chennai markets. Piramal added that the company has raised this amount through internal accruals. • The diversified Piramal Group had launched its financial arm in 2011 with a focus on the real estate sector.
Posted on: Fri, 14 Mar 2014 06:26:20 +0000

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