Indian Economy News

India Resurgence Fund to receive investment of US$225 million from Canada Pension Plan Investment Board

  • IBEF
  • December 19, 2019

Canada Pension Plan Investment Board, through its wholly owned subsidiary, CPPIB Credit Investment has committed to invest US$ 225 million in the Indian Resurgence Fund platform which has been set up by Piramal Enterprises Ltd and Brain Capital Credit.

The assets which are in distress through the purchase of existing debt and equity securities through the bankruptcy courts or directly from lenders, or through newly issued securities; and to take control over the turnaround of such assets through recapitalization and operational improvements, for that, fund makes an investment in it. As this fund is a distressed assets buyout platform.

"IndiaRF has also raised capital from other international high-net-worth investors and family offices through the current round," it said in a release on Wednesday.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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