Home Add to Favorite Contact Submit  
           30 June, 2022


    
Category:  Press » Health & Fitness

 

CPPIB and Piramal Enterprises Limited announce a US$500m Strategic Alliance

Popularity:
         Views: 1834
2014-02-23 10:36:40     
Akansha Pradhan

For Residential Development Debt Financing in India; Appoint Indiareit as Advisor

Toronto, Canada (February 12th, 2014): CPPIB Credit Investments Inc., a wholly-owned subsidiary of Canada Pension Plan Investment Board (CPPIB), and Piramal Enterprises Limited (PEL), one of India’s largest diversified companies, announced today a strategic alliance for providing rupee debt financing to residential projects across India’s major urban centres. CPPIB and PEL have each initially committed US$250 million for this purpose. Indiareit Fund Advisors (Indiareit), the real estate fund management arm of PEL, has been appointed as advisor.

The investment focus shall include the provision of project level debt financing to top tier, local developers with a strong track record in delivering high-quality residential projects. The focus will be on residential developments in Mumbai, Delhi NCR, Bangalore, Pune and Chennai – markets with good civic infrastructure, strong employment and population growth forecasts, which provide favourable absorption dynamics for middle income housing.

“This opportunity allows us to participate in India’s burgeoning middle class residential sector which has demonstrated compelling fundamentals through ongoing population and income growth, and rapid urbanization,” said Graeme Eadie, Senior Vice-President and Head of Real Estate Investments, CPPIB. “We are pleased to be fully aligned with an experienced operator with a strong track record.”

Ajay Piramal, Chairman, Piramal Enterprises Ltd said, “We are extremely pleased to be partnering with an institution like CPPIB who are a like-minded, focused and committed global investor. This is an opportune time to be creating an aligned pool of capital to target what we believe to be very compelling financing opportunities in the real estate sector. The alliance is consistent with PEL’s long term plan and vision of playing a contributing role towards investments that promote growth and underlines the confidence reposed by institutional investors in Indiareit’s capabilities.”

Macquarie Capital acted as the sole financial advisor to PEL on the transaction. CPPIB was advised by Vikram Gandhi, founder of VSG Capital Advisors, and CPPIB’s Senior Advisor for investment opportunities in India.

About Canada Pension Plan Investment Board:

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 18 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London, Hong Kong, New York City and São Paulo, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2013, the CPP Fund totalled C$192.8 billion.

About Piramal Enterprises:

Piramal Enterprises Limited (PEL) is one of India’s largest diversified companies, with a presence in pharmaceuticals, financial services and information management. PEL had consolidated revenues of over $ 650 million in FY2013. In pharmaceuticals, PEL is one of the leading custom manufacturing players globally, has a presence in the global critical care segment with a portfolio of inhalation and injectable anesthetics and an OTC business which is ranked no. 7 in India. PEL is also engaged in drug discovery & research and has strong pipeline of development products. In financial services, PEL has a real estate focused PE fund – Indiareit and a NBFC that is focused on lending to real estate, education & infrastructure sector. PEL’s information management business, Decision Resources Group, is a leading provider of information based services to the healthcare industry.

About Indiareit Fund Advisors:

Founded in 2005, Indiareit Fund Advisors is one of the pioneers in real estate private equity fund management in India. It is fully integrated as a 100% subsidiary of Piramal Enterprises Limited. Currently, it manages assets over USD 1 Billion which includes 5 domestic funds, 1 Offshore Fund and advises two international third party mandates.

Specialized in: Piramal Group - Pharmaceutical Company - Healthcare Services - Glass Manufacturing
URL: http://www.piramal.com
Print press release      Bookmark this page
Related Press releases 
Dr Leeds Introduces Telemedicine Services to Ensure Safe Treatment During the COVID-19 Pandemic (Popularity: ): Fort Lauderdale, FL - USA | June 3rd, 2020 -- The current pandemic due to COVID-19 has forced the world to go indoors by practicing social distancing and adhering to lockdown instructions globally. These are the times that call for solidarity and unity to fight the situation until the world comes back to its normal being. In such challenging times, the medical experts at Dr Leeds have introduced telemedicine in ...
Bethesda MD In-Home Care Agency Educates Readers On Mental Exercises (Popularity: ): Rockville, Maryland ( press.abc-directory.com ) January 22, 2019 - Comfort Home Care, a Bethesda Maryland in-home care agency, released a guide for people with elderly loved ones outlining mental exercises for strengthening memory and cognition. The Maryland in-home care agency recommends that family members help elderly loved ones incorporate these exercises into their regular routines to promote better mental health.As our loved ones age, their mental abilities often decline. Reduced ...
Tooth Implant Sydney Now Announces to Use "Australian Approved" Dental Implant Brands (Popularity: ): Sydney, New South Wales ( press.abc-directory.com ) November 08, 2018 - Dental implants are one of the best tooth replacement solutions available in dentistry today, and offer significant health and aesthetic benefits. Choosing to receive dental implants will not only help to restore the function of mouth, but provides great improvements in oral health and quality of life. Understanding the importance of high quality dental implants at the lowest possible ...
Tooth Implant Sydney Now Announces to Offer High Quality and Affordable Dental Implant (Popularity: ): Sydney, New South Wales ( press.abc-directory.com ) March 26, 2018 - Having missing teeth is not only embarrassing but the mouth will deteriorate rapidly if left untreated. Dental implants help you look and feel better, regain your self-esteem, and have a better quality of life. Understanding the importance of dental implants and to help edentulous patients to get high quality and affordable dental implants, Tooth Implant Sydney now proudly offers ...
Kansas City Urology Care Launches Patient Portal for Easy Access to Medical Information (Popularity: ): Overland Park, Kansas ( press.abc-directory.com ) July 01, 2017 - Kansas City Urology Care launches online patient portal to facilitate easy access to medical information. The portal will be accessible via the service's official website 24 hours a day, 7 days a week. This is in accordance to the company's commitment to provide high quality treatment and care for all their patients.Patients who wish to set up an account shall ...

Press release home snapshot 


Related Business 
Healthcare Services Provider: Piramal Group (Popularity: ): The Piramal Group is a diversified conglomerate with operations in over 30 countries and brand-presence across 100 markets around the world. Since the late 1980s, the Piramal Group evolved from a textile-centric business to a diversified pharmaceutical-based global organisation. The Piramal Group operates across sectors such as healthcare, life sciences, drug discovery, healthcare information management, specialty glass packaging and real estate.
Lab Diagnostics & HealthCare Information Management: Piramal Group (Popularity: ): The Piramal Group is a diversified conglomerate with operations in over 30 countries and brand-presence across 100 markets around the world. The Piramal Group has evolved from a textile-centric business to a diversified pharmaceutical-based global organisation. Piramal operates in different sectors such as healthcare information management, lab diagnostics, drug discovery & critical care services, glass packaging etc.
The Haines Centre For Strategic Management (Popularity: ): The Haines Centre for Strategic Management is an International Alliance of Master Consultants, Facilitators and Trainers, who are Experts in Strategic Management (Strategic Planning & Implementation, Strategic Leadership & Human Capital, Strategic Innovation & Culture Change), using the Systems Thinking Approach.
Painting Art Studio (Popularity: ): We use the modern management to build the new strength for enterprises. We strengthen the management of enterprise to create high economic benefits for enterprises, to realize the strategic goals of enterprises. We do all aspects of the management of enterprise norms and in an orderly manner, scientifically.
A.T.E. Enterprises Private Limited (Popularity: ): A.T.E. Enterprises Private Limited (ATEEPL) established in 1939 is headquartered in Mumbai, India. A professional and dynamic organization, ATEEPL is certified under ISO 9001:2008. The company is distinguished for its domain expertise, innovative technology solutions from across the globe, representation of 50+ world renowned principals and its over seven decades of impeccable customer service.
The Marketing Process Company (Popularity: ): UK firm offers expert strategic planning support to enterprises that recognize the importance of marketing planning in the strategic development of their business.
On Purpose Enterprises: Strategic Human Resource Management (Popularity: ): On Purpose Enterprises selects and develops high-performance workforces through innovative human resource management solutions and a comprehensive suite of employment assessments that help companies gain a competitive advantage by selecting, hiring, retaining and developing great talent. On Purpose is an authorized Strategic Business Partner of Profiles International, Inc., the recognized world leader in employment evaluation and human resource management assessment tools.
SP Software (P) Limited (Popularity: ): SP Software (P) Limited, a flag ship of SP Group, is a leading enterprise business software and information technology (IT) Services company, providing IT Consulting, technology and outsourcing services. Founded in 1995, SPSoft is one of the fastest growing IT companies in India having strong strategic alliance with leading global companies and capability to handle orders of any size. We offer varied services like Application Development, Maintenance & Support, Web ...
Affiliate Announce (Popularity: ): A submission service for businesses wanting to announce their affiliate programs to affiliate directories.
Royal Sundaram Alliance Insurance Company Limited (Popularity: ): Royal Sundaram Alliance Insurance Company Limited takes pride to be the first private sector general insurance company in India to be licensed since 2001, Since then we have been at the forefront of providing innovative general insurance solutions to individuals, families and businesses. We offer Motor, Health, Personal Accident, Home and Travel Insurance to individual customers. We also have a wide specialised insurance offerings in Fire, Marine, Engineering, Liability and ...