Mumbai: Global institutional investor Caisse p dépôt et placement du Québec (CDPQ) and Piramal Asset Management have set up a $300-million stage to target personal loan funding opportunities in India. CDPQ is donating 75percent of their investment and also Piramal will perpetrate the rest 25%.
The stage will provide private charge solutions to businesses across different industries in India, such as manufacturing, industrial, consumer, health care, pharmaceuticals, logistics, and amongst others, the business stated in a release.
This venture is tasked with CDPQ’s investment plan in India with long-term financial growth possible and Piramal’s direct financing plan to mid-market businesses and leading corporations.
“This stage intends to leverage the substantial market opportunity for other pools of funds to offer valuable solutions from the personal credit distance,” said Ajay Piramal, chairman, Piramal Group.
CDPQ’s property subsidiary, Ivanhoé Cambridge, has also dedicated $250 million towards a co-investment platform together with PEL to supply longterm equity into bluechip residential programmers.
“This is just another chance for CDPQ to operate together with the top partners in a marketplace where we see lots of chances within the long run,” explained Anita M George, executive vice-president and mind of strategic ventures, expansion markets, in CDPQ. “Through our partnership, we can support growing companies and invest in India’s booming entrepreneurship”
Based on Khushru Jijina, managing director, Piramal Capital & Housing Finance, the venture will concentrate on doing credit and seem to invest in businesses using a scalable business model which have shown strong implementation capabilities and powerful cashflows.