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Canada Pension Plan Investment Board, through its wholly owned subsidiary, CPPIB Credit Investments has committed to invest $225 million in the India Resurgence Fund platform, set up by Piramal Enterprises Ltd and Bain Capital Credit.
The fund is a distressed assets buyout platform and seeks to make investments in assets which are in distress through the purchase of existing debt and equity securities through 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.
"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.
Earlier, IFC had also committed to invest $100 million in the fund.
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