Eq­uity cap­i­tal for de­vel­op­ers across five ma­jor met­ros

Hindustan Times (Chandigarh) - Estates - - HtEstates - HT Es­tates Cor­re­spon­dent ■ ht­es­tates@hin­dus­tan­times.com

Pi­ra­mal En­ter­prises Lim­ited (PE) has an­nounced a strate­gic part­ner­ship with Ivan­hoé Cam­bridge, a real es­tate sub­sidiary of CDPQ (Caisse de dépôt et place­ment du Québec), to pro­vide long term eq­uity cap­i­tal to blue chip res­i­den­tial de­vel­op­ers across five ma­jor metro cities, in­clud­ing Delhi NCR, in In­dia.

Ivan­hoé Cam­bridge is al­lo­cat­ing an ini­tial US$250m for this pur­pose. PEL will com­mit an ad­di­tional amount along­side and co-in­vest be­tween 25% and 50% of each trans­ac­tion. The cap­i­tal will be made avail­able to a se­lec­tive list of Grade A de­vel­op­ers who have a track record of execution ca­pa­bil­ity.

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