Piramal, Canada Pension Plan Form $500M Indian Housing JV

Law360, New York (February 12, 2014, 2:37 PM EST) -- A Canada Pension Plan Investment Board subsidiary is teaming up with Indian conglomerate Piramal Enterprises Ltd. to provide debt financing to residential real estate projects throughout India, each committing $250 million for a total of $500 million.

The venture will invest in developments throughout Mumbai, Delhi National Capital Region, Bangalore, Pune and Chennai, areas which the partnership judged to have strong employment and infrastructure. Financing will be made in rupees, according to the venture.

“This opportunity allows us to participate in India’s burgeoning middle class residential...
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